A company issued 6-year, 8% bonds with a par value of $350,000. The market rate when the bonds were issued was 7.5%. The company received $353,500 cash for the bonds. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $14,000. $27,708 $28,000 $13,708 $14,292 < Prev 2 of 18 Next >