On January 1, Year 1, Dayden Company as lessee signed a five-year noncancelable equipment lease with annual payments of $100,000 beginning December 31, Year 1. Dayden Company treated this transaction as a capital lease. The five lease payments have a present value of $379,000 at January 1, Year 1, based on interest of 10%. What amount should Dayden Company report as interest expense for the year ended December 31, Year 1?