A real estate investor is considering the purchase of a four$-$unit office building and has the following information. The purchase price is $$923,893$ with $$8,203$ in acquisition costs. The project can be financed with a first mortgage of $$750,508$ at an interest rate of $7$ percent for $30$years, monthly payments. Financing costs $($discount points, etc.$)$ are estimated at $2$ percent of the loan amount. There is a prepayment penalty of $3$ percent of the outstanding balance if the loan is paid off within the first $8$ years of the mortgage life. The property will be sold and mortgage loan repaid at the EOY $3.$

What is the interest expense for year $2?$