A company spends $10,000 annually on office supplies. Due to inflation, the cost of supplies is expected to increase by 8% each year. The company decides to pass on this increased cost to its clients by raising its service fees. If the company wants to maintain a profit margin of 20% above its total annual expenses, including the increased cost of supplies, what should be the total service fees charged to clients in the second year? Let's think step by step and output the final answer within \boxed{}.
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