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Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds. Payment Effective Decrease in Interest Balance Cash 1 2 3 4 WNH 300,000 300,000 300,000 300,000 Outstanding Balance 8,640,967 8,686,606 8,734,070 8,783, 433 345,639 347,464 349, 363 45,639 47,464 49,363 What is the interest expense on the bonds for the year ended December 31, 2022? Multiple Choice $347,464 $600,000 $100,700