ABC Corp has invested in a $975 face-value, 7.02% bond and paid $1,001 for the bond. At this price, the bond will yield a 5.24% return. Interest is payable annually. Assume that ABC uses the effective interest method required by IFRS. What is the interest income at the end of year 2? $49.03 $50.32 $51.61 $52.90 $54.20