Farris Company borrowed $800,000 from Bank Two on January 1, 2014, in order to expand its mining capabilities. The five-year note required annual payments of $208,349 and carried an annual interest rate of 8.5%. What is the amount of expense Farris must recognize on its 2015 income statement?

$68,000.

$56,070.

$43,127.

$50,290.