Question 25 (1 point) Xtra Corporation issues 5-year bonds with a face value of $8,000,000 and a stated rate of 6% on January 1, 2022. Interest is payable annually on December 31. The market rate of interest is 7%. Xtra's controller prepares the first two lines of the effective interest amortization table and asks you to prepare the third line. What is the company's INTEREST EXPENSE for this December 31, 2024 interest payment? $467,403 $545,304 $560,000 $480,000