Ryoko Company purchased a machine from Amir Corporation on October 31, 2020. In payment for the $905,000 purchase, Ryoko issued a one-year installment note to be paid in equal monthly payments of $80,408.15 at the end of each month. The payments include interest at the rate of 12%. How much interest expense will Ryoko report in its income statement for the year ended December 31, 2020 related to this note? (round to the nearest whole number) Question 18 2 pts True or False: If a company pays debt issue costs, that will increase the total interest expense over the life of the bond. True Falso