-14 Question 10 View Policies Current Attempt in Progress On January 1, 2017. Kimbrough Inc, issued $5,000,000, 9% bonds for $4,695,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Kimbrough uses the effective interest method of amortizing bond discount. At December 31, 2017. Kimbrough should report namortized bond discount of $274,500 $256.050 $285,500 $255.000