Pharoah industries, Inc issued $13,500,000 of 8% debentures on May 1, 2024 and received cash totaling $11,978,048. The bonds pay interest semiannually on May 1 and November 1 . The maturity date on these bonds is November 1,2028 . The firm uses the effective: interest method of amortizing discounts and premiums. The bonds were sold to yield an effective rate of 10% Calculate the total dollar amount of discount or premium amortization during the first year (5/1/24 through 4/30/25 ) these bonds were outstanding (Round answers to 0 decimal ploces, ey 5.275.)