a company issued a 10%, five-year bonds with a par value of $400,000

Question 5 0.5 pts A company issued 10%, five-year bonds with a par value of $400,000. The market rate when the bonds were issued was 8%. The company received $432,458 cash for the bonds. Using the effective interest method, the amount of interest expense for the first semiannual interest period is: $4,324.58 $16,000.00 $16,754.20 O $17,298.32 $20,000.00 0.5 pts Question 6