A finance lease agreement calls for quarterly lease payments of $5,397 over a 10 year lease term, with the first payment on July 1, 2022, the beginning of the lease. The annual interest rate is 6%. Both the present value of the lease payments and the cost of the asset to the lessor are $110,000. Calculate the interest expense reported on January 1, 2023 by lessee (Please round answer to the nearest whole dollar)