At the beginning of 2020 , Concord Corporation issued 8% bonds with a face value of $3300000. These bonds mature in five years, and interest is paid semiannually on June 30 and December 31 . The bonds were sold for $3057120 to yield 10%. Concord uses a calendaryear reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020 ? (Round your answer to the nearest dollar.) $304077$305409$319623$306755