On 1 January 20X6, Platinum Co entered into an agreement for the right to use an asset for three years. The agreement meets the definition of a lease under IFRS 16 Leases. A deposit of $120,000 was payable on 1 January 20X6 with three further instalments of $100,000 payable on 31 December 20X6, 31 December 20X7 and 31 December 20X8. The present value of the future lease payments was $240,200 on commencement of the lease and the rate of interest implicit in the lease is 12%. What will be the amount of the finance charge arising from this lease which will be charged to profit or loss for the year ended 31 December 20X7?