A company issued 5-year, 9.00% bonds with a par value of $108,000. The market rate when the bonds were issued was 8.50%. The company received $110,273 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:

A company lssued 5 yeak, 900% bonds with a par value of $108000. The market rate when the bonds were issued was 8,50%. The company recelved 5102273 canh for the bonds. Using the ettective interest mettiod, the amount of recorded interest expense for the first semiannual interest period is: Mumite Cresce 4sin60 52.43000 semozi 1037000