8. At the end of 2018, the Jos Company is analyzing the possible issuance of long-term bonds; specifically, which of the following two alternatives to choose. The bonds will have a date of January 1, 2019. Both alternatives have the same principal of $100,000 (maturity value), the same contractual interest rate of 10% (stated interest rate), and the same terms until maturity of 5 years (maturity date). Interest is paid at the end of every six months on June 30 and December 31. For both, the effective market rate, ignoring issuance costs, is 15%. Alternative 1: If the bonds are issued through the Local Investment Bank (BIL), the issuance costs are estimated at $5,000. Alternative 2: However, if they are issued through the International Investment Bank (IIB) the issuance costs are estimated at $4,100. Which of the two alternatives will report the higher interest expense on the Statement of Income and Expenses? a. Both will report the same interest expense on the Statement of Income and Expenses b. Alternative 1 C. Cannot be determined from the data provided d. Alternative 2