A company issued 5-year, 10 50% bonds with a par value of $107.000. The market rate when the bonds were issued was 10.00%. The company received $109,252 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $2,808.75. $10,862.28 $5,617.50 $11,235.00 $5,462.60.

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