16. Cramer Company sold five-year, 8% bonds on October 1, 2021. The face amount of the bonds was $100,000, while the issue price was $102,000. Interest is payable on April 1 of each year. The fiscal year of Cramer Company ends on December 31. How much interest expense will Cramer Company report in its December 31, 2021, income statement (assume straight-line amortization)?- + A. $2,000.- B. $1,900.- C. $1,778. D. $2,040. t 17. Ferris Wheeler Co. issued $10,000 of bonds on January 1, 2021. The bonds pay interest semiannually. This is a partial bond amortization schedule for the bonds. t Effective- interest Decrease in balance- Payment Cash + Outstanding balance- 9,080 9,089 9,098 9,107 12 2 3+ 400 400 400 400 409 409 409 9 9 9 42 + What is the interest expense on the bonds for the year ended December 31, 2022?- t A. $800.- B. $819. C. $818. D. $809