On January 1 year 1, a company issues 6%, 10 year $300,000 par value bonds that pay annual interest on December 31 of every year. The bonds were issued at 103. Required: Calculate the total borrowing cost (financing cost) for the company, over the life of the bonds. (Note: In the answer space, write only the number with no $ signs or commas. That is, if your answer is $1,000, white it as: 1000).