Alden trucking company is replacing part of its fleet of trucks by purchasing them under a note agreement with kenworthy on january 1, 2019. alden financed $38,135,448, and the note agreement will require $10.06 million in annual payments starting on december 31, 2019 and continuing for a total of four more years (final payment december 31, 2023). kenworthy will charge alden trucking company the market interest rate of 10% compounded annually. what is the amount of the 2020 interest expense?
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