Street Soap Company issued ten-year, 7% bonds with a total face value of $1,800,000. The bonds make a cash interest payment each year on December 31. The proceeds of the issuance will be used to in state-of-the-art freezers in all of its stores. At the time of the issuance, the market rate was 8%. What is Paper Street's total interest expense over the life of the bonds? Y Flag question $1,313,575.53 $1,380,781,47 $1,246,443.98 $1,514,501.36