Parent owns 100% of Sub. On the open market parent buy all bonds of the Sub for $840,000 on January 1, 2021. The par value of these bonds on ledger for Sub is $750,000. Interest is paid annually at 7%. On the books of the Sub there is an unamortized discount of $40,000. The fiscal year end is December 31. The bonds mature in six years. What is the amount of interest expense that needs to be eliminated on the consolidated income statement for 2021?