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On September 1, 2020, Collins Company issued a note payable in the amount of 3,600,000 and payable in three equal annual principal payments of 1,200,000

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On September 1, 2020, Collins Company issued a note payable in the amount of 3,600,000 and payable in three equal annual principal payments of 1,200,000. on this date, the prime rate was 11%. the first interest and principal payment was made on september 1, 2021. on december 31, 2021, what amount should be reported as accrued interest payable?