On January 1, 2018, Princess Corporation leased equipment to King Company. The lease term is 11 years. The first payment of $734,000 was made on January 1, 2018. The equipment cost Princess Corporation $4,406,900. The present value of the lease payments is $4,716,900. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 13%, how much interest revenue will Princess record in 2019 on this lease? (Round your answer to the nearest dollar.)

Multiple Choice

• $216,223.

• $490,678.

• $517,777.

• $489,668.