ASAP HELP PLS TY

On January 1,2024 , Novak Company sold property to Sunland Company which originally cost Novak $2790000. There was no established exchange price for this property. Sunland gave Novak a $4290000 zero-interest-bearing note payable in three equal annual installments of $1430000 with the first payment due December 31,2024 . The note has no ready market. The prevailing rate of interest for a note of this type is 10%. The present value of a $4290000 note payable in three equal annual installments of $1430000 at a 10% rate of interest is $3556198. What is the amount of interest income that should be recognized by Novak in 2024 if the effective-interest method is used? $143000 $355620 $429000 \$o