On january 1, 2016 , Mary Company leased equipment, signing a five-years lear that requires annual lease payment of $20,000. The lease qualifies as a capital lease. The payment are made at year-end, and the first payment will be made at December 31. 2016. In addition, Mary value factors for five periods at 12% are as follows. Refer to Exhibit 20-2. What is the interest expense associated with the lease obligation for the year ending December 31, 2017? (Round answers to the nearest dollar.)