Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2018. International Machines manufactured the equipment at a cost of $85,000. Manufacturers Southern's fiscal year ends December 31. Related Information: Lease term 2 years (8 quarterly periods): Economic life of asset 2 years; Fair value of asset $112,080; Implicit interest rate 8%; Payments begin January 1, 2018. What amount of interest revenue will the Lessor recognize after the lease payment on April 1, 2018? Multiple Choice $13,058 $1,942 $1,306 $15,000 Manufacturers Southern leased high-tech electronic equipment from International Machines on January 1, 2018. International Machines manufactured the equipment at a cost of $85,000. Manufacturers Southern's fiscal year ends December 31. Related Information: Lease term 2 years (8 quarterly periods): Economic life of asset 2 years; Fair value of asset $112,080; Implicit interest rate 8%; Payments begin January 1, 2018. What amount of interest revenue will the Lessor recognize after the lease payment on April 1, 2018? Multiple Choice $13,058 $1,942 $1,306 $15,000