A firm issued $250,000 of 10year, 12 percent bonds payable on January 1 for $281,156, yielding an effective rate of 10 percent. Interest is payable on January 1 and July 1 each year. The firm records amortization on each interest date. Bond interest expense for the first six months, using effective interest amortization, is:

$14,058

$14,331

$15,000

$16,870