Straight Industries purchased a large piece of equipment from Curvy Company on January 1, 2016. Straight Industries signed a note, agreeing to pay Curvy Company $390,000 for the equipment on December 31, 2018. The market rate of interest for similar notes was 9%. The present value of $390,000 discounted at 9% for five years is $253,473. On January 1, 2016, Straight Industries recorded the purchase with a debit to equipment for $253,473 and a credit to notes payable for $253,473. How much is the 2017 interest expense, assuming that the December 31, 2016 adjusting entry was made? A. $30,593. B. $32,793. C. $35,100. D. $24,866.