On $1$ April $20$X$3,$ Warminster entered into a lease agreement. The payment terms comprise $$60,000$ payable on $1$ April $20$X$3$ followed by three further payments of $$60,000$ payable on $31$ March $20$X$4,20$X$5$ and $20$X$6.$

The present value of the initial lease liability was $$140,000$ and the interest rate implicit in the lease is $14\%.$

What amount of interest should be expensed to profit or loss for the year ended $31$ March $20$X$5?$