On 1 June 2023, Debuque plc had £7.2m 4.5% loan notes in issue, interest being paid annually in two instalments on 31 August and 28 February. On 1 October 2023, the company then issued a further £2.2m 3.0% loan notes at par, interest being paid in two instalments on 31 March and 30 September each year. Finally, on 31 March 2024, Debuque plc redeemed £3m 4.5% loan notes at par, paying the interest due to that date.

On the basis of the above, what interest expense (or ‘finance costs’) should appear in the company’s income statement for its year ended 31 May 2024?