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On January 2, 2023, Sunland Corp. issued a $94,000, four-year note at prime plus 1% variable interest, with interest payable semiannually; On the same date, Sunland entered into an interest rate swap where it agreed to pay 8% fixed and receive prime plus 1% for the first six months on $94,000. At each six-month period, the variable rate will be reset. The prime interest rate is 7.6% on January 2 , 2023 , and is reset to 8.7% on June 30,2023 . On December 31,2023 , the fair value of the swap has increased by $25.000. Sunland follows ASPE and uses hedge accounting. Assume that the swap qualifies for hedge accounting under ASPE. (b) (7) Your answer is incorrect. Calculate the net interest expense to be reported for this note and the related swap transaction as at June 30 and December 31. 2023