On January 1, 2006, Princess Corporation leased equipment to King Company. The lease is for 8 years. The first payment of $675,000 was made on January 1, 2006. The equipment cost Princess Corporation $3,600,000. The present value of the minimum lease payments is $3,960,000. The lease is appropriately classified as a sales-type lease. Assuming the interest rate for this lease is 10%, how much interest revenue will Princess record in 2007 on this lease?