On April 1, Year 1, Kenzie Company purchased a used delivery truck paying $23,000 cash and signing a Note Payable for $15,000 for the remainder of the purchase cost. The Note Payables interest rate was 6% and has a due date of April 1, Year 2. On the notes due date, Kenzie must pay off the principal and the interest. On April 1, Year 4, after using the truck for three years, the firm spent $5,500 on the truck. 40% of this amount was to repaint the truck to make its appearance like when purchased and the remainder was to install some navigation system to enable more efficient deliveries. Kenzies fiscal year [accounting year] ends on December 31.

How much Interest Expense would appear in Kenzie's income statement for the year ended December 31, Year 1?