A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,703,108. The company uses the effective-interest method of amortization. (Hint: do a partial effective-interest method table.)

Please build amortization schedule

10	How much total interest expense will be recognized in the entire 2020 calendar year?
	a.	$585,000
	b.	$1,170,000
	c.	$1,176,373
	d.	$1,176,249