Technoid Incorporated sells computer systems. Technoid leases computers to Lone Star Company on January $1,2024.$ The manufacturing cost of the computers was $$17$ million.

This noncancelable lease had the following terms:

Lease payments: $$2,390,137$ semiannually, first payment on January $1,2024$; remaining payments on June $30$ and December $31$ each year through June $30,2028.$

Lease term: $5$ years $(10$ semiannual payments$).$

No residual value, no purchase option.

Economic life of equipment: $5$ years.

Implicit interest rate and lessee's incremental borrowing rate: $3\%$ semiannually.

Fair value of the computers on January $1,2024$: $$21$ million.

What is the interest revenue that Technoid would report for this lease in its income statement for the year ended December $31,2024?$

Note: Round your answer to the nearest whole dollar.

Multiple Choice

$$0$

$$1,061,637$

$$558,296$

None of these answer choices is correct.