A company issued 7%, 5-year bonds with a par value of $95,000. The market rate when the bonds were issued was 6%. The company received $99,052 cash for the bonds. Using the effective interest method, the amount of interest expense for the first semiannual interest period is: Multiple Choice O $3,325.00 O $2,971.56. O $5,943.12. $6,650.00 $2,850.00