8. On January 1,X-Cell Corp. issued 5% bonds with a face value of $100,000. The bonds mature in five years and interest is paid very six months [6/30 and 12/31). The bonds were issued for $95,735 to yield 6%. Using effective interest amortization, what is the total interest expense for the first year? a. $4,147. b. $4,625. c. $5,755. d. $5,853. e. None of the above