Bayside Incorporated issues $$1,000,000$ face value, $8\%,5-$year bond on February $1,2023.$ Interest is paid semiannually each July $31$ and January $31.$ The bonds sell at a price of $95$; Bayside uses the straight$-$line method of amortizing bond discount or premium.

Interest expense recorded in the financial statements of Bayside for the period ended at July $31,2023$ will be:

Select one:

a$.$ $$45,000.$

b$.$ $$40,000.$

C$.$ $$80,000.$

d$.$ $$35,000.$

Clear my choice