On January 2, 2023, Crane Ltd. signed a ten-year non-cancellable lease for a heavy-duty drill press. The lease required annual payments of $48000, starting December 31, 2023, with title passing to Crane at the end of the lease. Crane is accounting for this lease as a capital (finance) lease. The drill press has an estimated useful life of 20 years, with no residual value. Crane uses straight-line depreciation for all its plant assets. The lease payments were determined to have a present value of $322084, based on an implicit interest rate of 8%. On its 2023 income statement, how much interest expense should Crane report in connection with this lease? $38400 $12884 $0 O $25767