Bond Interest: On January 1, FY1, Giamartino, Inc, issues a 3 year 8% bond with a face value of $100,000 for $97,421 when the market interest rate is 9%. Interest is paid on July 1 and January 1 . Calculate interest expense for the six months ended 12/31/FY1.Bond Interest: On January 1, FY1, Giamartino, Inc, issues a 3 year 8% bond with a face value of $100,000 for $97,421 when the market interest rate is 9%. Interest is paid on July 1 and January 1 . Calculate interest expense for the six months ended 12/31/FY1. Please show steps.