g On January 1, 2020, Lessor Inc. leases equipment to Lessee Inc. The equipment has a fair value of $100,000, a carrying value of $80,000, an economic life of four years, and a lease term of three years. Lessee's incremental borrowing rate is 10%. There is a purchase option at the end of the lease of $10,000 that is reasonably expected to be executed by Lessee at that time. The annual lease payment is $33,809.39, with the first payment due immediately on January 1, 2020. What is the amount of interest revenue recognized in 2020 by Lessor Inc.
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