Leaf Co. purchased from Oak Co. a $20,000, 8%, five-year
note that required five equal annual year-end payments of
$5,009. The note was discounted to yield a 9% rate to Leaf. At
the date of purchase, Leaf recorded the note at its present value
of $19,485. Leaf does not elect the fair value option for reporting
its financial liabilities. What should be the total interest revenue
earned by Leaf over the life of this note?