A company decides to give annual bonuses to its employees based on their years of service. The bonus for the first year is $500, and it increases by $100 each subsequent year (i.e., $600 for the second year, $700 for the third year, and so on). If an employee has been with the company for 10 years, what is the total bonus the employee will have received over these 10 years? Let's think step by step and output the final answer within \boxed{}.
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