on january 1,2010 west Co. exchanged equipment for a $400,000 zero-interest-bearing note due on january 1, 2013. the prevailing rate of interest for...

on january 1,2010 west Co. exchanged equipment for a $400,000 zero-interest-bearing note due on january 1, 2013. the prevailing rate of interest for a note of this type at january 1, 2010 was 10%. the present value of $1 at 10% for three periods is 0.75. what amount of interest revenue should be included in West's 2011 income statement?