On January 1, 2024, Princess Corporation leased equipment to King Company. The lease term is 9 years. The first payment of $718,000 was made on January 1,2024 . The equipment cost Princess Corporation $3,688,674. The present value of the lease payments is $4,048,704. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 14%, how much interest revenue will Princess record in 2025 on this lease? Note: Round your answer to the nearest whole dollar amount. Multiple Choice $427,570 $466,299 $251,701 $431,060 On January 1, 2024, Princess Corporation leased equipment to King Company. The lease term is 9 years. The first payment of $718,000 was made on January 1,2024 . The equipment cost Princess Corporation $3,688,674. The present value of the lease payments is $4,048,704. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 14%, how much interest revenue will Princess record in 2025 on this lease? Note: Round your answer to the nearest whole dollar amount. Multiple Choice $427,570 $466,299 $251,701 $431,060