0.5 points QUESTION 20 1. Mcdougal Company sold a $500,000, 5-year, 9%APR bond issue on January 1, 2014 for a selling price of $480,700. The bonds pay interest semiannually on June 30 and December 31. The effective rate is 10% APR. Mcdougal incurred bond issue costs of $15,000 and uses the straight-line method to amortize deferred costs. Mcdougal considers amortization of bond issue costs as part of bond interest expense. (For deferred costs, it was determined that there are no material differences between using the straight-line and effective interest methods of amortization.) Determine Bond Interest Expense for the year ended December 31, 2014: $48,0 70 $48,1 47 C $51,0 70 $51,1 47