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A company issues $16800000, 5.8%, 20-year bonds to yield 6% on January 1, 2024. Interest is paid on June 30 and December 31. The

A company issues $16800000, 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 $16411671.83. If the effective-interest method of amortization is used, what amount of interest expense will be recognized in 2024? $984786 $974400 $487200 $984855

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