On January 1, 2021, Woodall Enterprises sold property to Mattson Company that originally cost Woodall $1,470,000. Mattson gave Woodall a $2,100,000 zero-interest-bearing note payable in three equal annual instalments of $700,000, with the first payment due December 31, 2021. The prevailing rate of interest for a note of this type is 10%. The present value of a $2,100,000 note payable in three equal annual instalments of $700,000 at a 10% rate of interest is $1,740,800. What is the amount of interest income that should be recognized by Woodall in 2021, using the effective interest method?\