Pharoah Co. purchases land and constructs a service station and car wash for a total of $570000. At January 2, 2018, when construction is completed, the facility and land on which it was constructed are sold to a major oil company for $640000 and immediately leased from the oil company by Pharoah. Fair value of the land at time of the sale was $66000. The lease is a 10-year, noncancelable lease. Pharoah uses straight-line depreciation for its other various business holdings. The economic life of the facility is 15 years with zero salvage value. Title to the facility and land will pass to Pharoah at termination of the lease. A partial amortization schedule for this lease is as follows:

		Payments		Interest		Amortization		Balance
Jan. 2, 2018								$640000.00
Dec. 31, 2018		$104157.05		$64000.00		$40157.05		599842.95
Dec. 31, 2019		104157.05		59984.30		44172.75		555670.20
Dec. 31, 2020		104157.05		55567.02		48590.03		507080.17

The total lease-related income recognized by the lessee during 2019 is which of the following?

$ 0

$4667

$7000

$70000