Wirth Inc. purchased office equipment with an installment note payable on 1/1/2019. The repayment terms of the note stipulated that Wirth Inc. would pay four equal installments of $40,000 at the end of each year. The installments included principal and interest with a market rate of 4%. What was Wirth Inc.'s interest expense for 2020? (Round to the nearest dollar if necessary) PV of $1 when N=4, 1=4%: 0.85480 PV of annuity when N=4, 1=4%: 3.62990