On October 31, 2016, Jornd Company incurs a 30-year $800,000 mortgage liability in conjunction with the purchase of a motel. This mortgage is payable in equal monthly installments of $8,228, which include interest computed at an annual rate of 12%. The first monthly payment is made on November 30, 2016. This mortgage is fully amortizing over 360 months. Over the 30-year life of the mortgage, the amount Jornd will pay for interest amount to: SHOW YOUR WORK! Round to the nearest penny