ABC Corp has invested in a $985 face-value, 7.26% bond and paid $1,012 for the bond. At this price, the bond will yield a 5.47% 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? $54.47 $55.83 $57.20 $58.56 $59.92