37. Prescott Corporation 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 Cash Effective

Interest Decrease in

Balance Outstanding

Balance

11,487,747

1 400,000 344,632 55,368 11,432,379

2 400,000 342,971 57,029 11,375,350

3 400,000 341,261 58,739 11,316,611

4 400,000

What is the interest expense on the bonds for the year 2022?