On January 1, 2023, Martineau Corp. issued a 5-year, 5% installment note payable for $118,000 to finance upgrading its current equipment. The company's year end is December 31. The repayment of $13,482 is done semi-annually on January 1 and July 1. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole dollar. Assuming an equal installment amount of $13,482, fill in the following table and determine the total interest expense incurred over the 5- year term. Note: Due to rounding, make the reduction of the principal in the last payment equal to the remaining principal balance. This will ensure the ending principal balance is $0. Date Jul 1, 2023 Cash Payment Interest Expense Reduction of Principal Principal Balance Jan 1, 2024 Jul 1, 2024 Jan 1, 2025 Jul 1, 2025 |Jan 1, 2026| Jul 1, 2026 Jan 1, 2027 Ju1 1, 2027 Jan 1, 2028