On January 1, 2020, Ann Price loaned $175488 to Joe Kiger. A zero-interest-bearing note (face amount, $240000) was exchanged solely for cash; no other rights or privileges were exchanged. The note is to be repaid on December 31, 2022. The prevailing rate of interest for a loan of this type is 11%. The present value of $240000 at 11% for three years is $175488. What amount of interest income should Ms. Price recognize in 2020?

$26400.

$60550.

$19304.

$79200.