Marshall, Inc., leased equipment to Gadsby Company on January 1, 2008. The lease is for a five-year period ending January 1, 2013. The first equal annual payment of $1,200,000 was made on January 1, 2008. The cash selling price of the equipment is $5,174,552, which is equal to the present value of the lease payments at 8%. Marshall purchased the equipment for $4,300,000. For 2008, Marshall should report interest revenue of Answer a. $317,964 b. $344,000 c. $413,964 d. $517,455