A company acquired an item of plant under a finance lease on $1$ April $2007.$ The present value of the minimum lease payments $($MLP$)$ was $$15\mathrm{.}6$ million and the rentals are $$6$ million per annum paid in arrears for three years on $31$ March each year.

The interest rate implicit in the lease is $8\%$ per annum.

What is the TOTAL amount that will appear on the Income Statement in respect of this lease for the year ended $31$ March $2008($end of year two$)?$

$\backslash$table$[[$Year$,\backslash$table$[[$Balance at$],[$Beginning of$],[$year$]],\backslash$table$[[$Interest$],[$payment$],[$A$]],\backslash$table$[[$Principal$],[$Payment$],[$C$-$A$]],\backslash$table$[[$Cash$],[$Payment$],[$C$]],\backslash$table$[[$Balance at end of$],[$year$]]],[\frac{07}{08},15600000,1248000,4752000,6000000,10848000],[\frac{08}{09},10848000,867840,5132160,6000000,5715840],[\frac{09}{10},5715840,457267,5542733,6000000,173107],[,,,,,.]]$

Answer: