Liveson 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. Effective Interest Decrease in Balance Payment Cash Outstanding Balance 8,640,967 8,686,606 8,734,070 8,783,433 1 2 300,000 300,000 300,000 300,000 345,639 347,464 349,363 45,639 47,464 49,363 3 4 What is the interest expense on the bonds for the year ended December 31, 2022? Multiple Choice $700,700. $100,700. $347,464. $600,000