On January 1, 2021, Princess Corporation leased equipment to King Company. The lease term is 9 years. The first payment of $710,000 was made on January 1, 2021. The equipment cost Princess Corporation $4,033,732. The present value of the lease payments is $4,363,747. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 11%, how much interest revenue will Princess record in 2022 on this lease? (Round your answer to the nearest whole dollar amount.)

Multiple Choice

• $308,088.

• $401,912.

• $371,533.

• $368,023.