Bennett Inc. issues 100 4% coupon, $1,000 par value bonds maturing in 5 years. The bonds are issued at a price of $92,488 and the market rate for comparable bonds is 5.75%. Assuming that Bennett uses the effective interest method of amortization, the interest expense for Year 2 is closest to: $5,320 $5,395 $5,475 $5,505