On January 1, 2021, Princess Corporation leased equipment to King Company. The lease term is 11...

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On January 1, 2021, Princess Corporation leased equipment to King Company. The lease term is 11 years. The first payment of $744,000 was made on January 1, 2021. The equipment cost Princess Corporation $4,411,090. The present value of the lease payments is $4,781,125. 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 2022 on this lease? (Round your answer to the nearest whole dollar amount.) Multiple Choice $496.334. $219,174 $524,826 $500,844, On January 1, 2021, Princess Corporation leased equipment to King Company. The lease term is 11 years. The first payment of $744,000 was made on January 1, 2021. The equipment cost Princess Corporation $4,411,090. The present value of the lease payments is $4,781,125. 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 2022 on this lease? (Round your answer to the nearest whole dollar amount.) Multiple Choice $496.334. $219,174 $524,826 $500,844,