Andrews Inc. prepares the following effective interest amortization table for its bonds payable. Interest Cash Payment Payment Decrease in Date Amount June 30, 2022 $540,000 Interest Expense Discount Discount $661,602 $121,602 $1,338,360 Book Value $16,661,640 Dec 31, 2022 $540,000 $666,466 $126,466 $1,211,894 $16,788,106 June 30, 2023 $540,000 $671,524 $131,524 $1,080,370 $16,919,630 Dec 31, 2023 $540,000 $676,785 $136,785 $943,585 $17,056,415 June 30, 2024 $540,000 $682,257 $142,257 $801,328 $17,198,672 Dec 31, 2024 $540,000 $687,947 $147,947 $653,381 $17,346,619 June 30, 2025 $540,000 $693,865 $153,865 $499,516 $17,500,484 Dec 31, 2025 $540,000 $700,019 $160,019 $339,497 $17,660,503 June 30, 2026 $540,000 $706,420 $166,420 $173,077 $17,826,923 Dec 31, 2026 $540,000 $713,077 $173,077 $0 $18,000,000 How much total INTEREST EXPENSE will the company report on its Income Statement for 2022?