Magenta Company Purchased a Machine from Pink Corporation on October

Magenta Company purchased a machine from Pink Corporation on October 31, 2018. In payment for the $288,000 purchase, Magenta issued a one-year installment note to be paid in equal monthly payments of $25,588 at the end of each month. The payments include interest at the rate of 12%. The amount of interest expense that Magenta will report in its income statement for the year ended December 31, 2018, is:

A) $2,559.
B) $2,880.
C) $5,533.
D) $5,760.