On January 1, 2025, Cullumber Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Cullumber to make annual payments of $125000 at the beginning of each year for five years with title the passing to Cullumber at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. Cullumber uses the straight-line method of depreciation for all of its fixed assets. Cullumber accordingly accounts for this lease transaction as a finance lease. The lease payments were determined to have a present value of $521233 at an effective interest rate of 10%. Concerning this lease, for 2026 Cullumber should record interest expense of $31086. interest expense of $39623. interest expense of $52123. interest expense of $43586