33 A company issued 5-year, 7% bonds with a par value of $500,000. The market rate when the bonds were Issued was 6.5%. The company received $510,528 cash for the bonds. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $16,447.20. $35,000.00. $33,181.19. $18,161.19. $17,500.00