178 A company issued 6.0%, 5-year bonds with a par value of $80,000. The market rate when the bonds were issued was 7.0%. The company received $76,673.36 cash for the bonds. Using the effective interest method, the amount of interest expense for the second semiannual interest period is: Skipped Multiple Choice $2,693.49. $2,400.00. $2,683.57. $5,377.06. $4,800.00