On June 30, 2020, Sandhill Limited issued $5 million of 20-year, 12% bonds for $5,401,136, which provides a yield of 11%. The company uses the effective interest method to amortize any bond premium or discount. The bonds pay semi-annual interest on June 30 and December 31. What is the total cost of borrowing over the life of the bond? (Round answer to 0 decimal places, e.g. 5,275.) Show the proper presentation for the liability for bonds payable on the December 31, 2020 SFP. (Round answer to 0 decimal places, e.g. 5,275.)