Ajax Corporation issued 1,500 bonds each with face value of $1,000 on January 1, 2025. The bonds have semi-annual interest payments at 4% per annum due on December 31^st and June 30^th. The bonds mature on December 31, 2029 and were issued to yield 5% per annum. What amount would Ajax record for interest expense when making the first interest payment on June 30, 2025?

Question 7 options:

	$69,208
	$30,000
	$31,347
	$35,859