At the beginning of 2020, Bonita Industries issued 11% bonds with a face value of $3500000. These bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $3242400 to yield 13%. Bonita uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020? (Round your answer to the nearest dollar.)

$467992

$452446

$453778

$455124