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On January 1, 2020,Sunland Companyexchanged equipment for an $790000zero-interest-bearing note due on January 1, 2023. The prevailing rate of interest for a note of this

On January 1, 2020,Sunland Companyexchanged equipment for an $790000zero-interest-bearing note due on January 1, 2023. The prevailing rate of interest for a note of this type January 1, 2020 was9%. The present value of $1 at9% for three periods is0.77. What amount of interest revenue should be included inSunland's 2021 income statement?

$0

$54747

$59674

$71100

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