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A company issues $16700000,5.8%,20-year bonds to yield 6% on January 1,2024 . Interest is paid on June 30 and December 31 . The proceeds from

image text in transcribed A company issues $16700000,5.8%,20-year bonds to yield 6% on January 1,2024 . Interest is paid on June 30 and December 31 . The proceeds from the bonds are $16313983.31. If the effective-interest method of amortization is used, what amount of interest expense will be recognized in 2024 ? $978923$978992$484300$968600

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