On January 1, 2021, Princess Corporation leased equipment to King Company. The lease term is 11 years. The first payment of $724,000 was made on January 1, 2021. The equipment cost Princess Corporation $5,060,379. The present value of the lease payments is $5,370,384. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 9%, how much interest revenue will Princess record in 2022 on this lease? (Round your answer to the nearest whole dollar amount.)

Multiple Choice

$394,160.

$390,650.

$418,175.

$305,825.