Charter Company issued $300,000 of 14% bonds on January 1 at face value. The bonds pay interest semi-annually on January 1 and July 1. The bonds are dated January 1 and mature in five years on January 1. The total interest expense related to these bonds for the current year ending on December 31 is:

Select one:

a.$6,000

b.$2,000

c.$42,000

d.$18,000