On January 1, 2018, OMG Corporation signed a five-year non-cancelable lease for equipment. The terms of the lease called for OMG to make annual payments of 180,000 at the beginning of each year for five years with title passing to OMG at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. OMG uses the straight-line method of depreciation for all of its fixed assets. OMG accordingly accounts for this lease transaction as a finance lease. The minimum lease payments were determined to have a present value of 750,578 at an effective interest rate of 10%. With respect to this lease, for 2019 OMG should record the interest expense as: (Round to the nearest )