Franklin Company obtained a $$135,000$ line of credit from State Bank on January $1,$ Year $1.$ The company agreed to accept a variable interest rate that was set at $3\%$ above the bank's prime lending rate. The bank's prime rate of interest and the amounts borrowed or repaid during the first three months of Year $1$ are shown in the following table. Assume that Franklin borrows or repays on the first day of each month$\mathrm{.}1-$Jan$1-$Feb$1-$MarAmount Borrowed or $($Repaid$)$$ $42,000(16,000)42,000$Prime Rate for the Month$4\mathrm{.}0\%4\mathrm{.}5\%5\mathrm{.}0\%$What is the amount of interest expense recognized in March? $($Do not round your intermediate calculations. Round your final answer to the nearest whole number.$)$