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Cheryl Inc issued $100,000, 8%, 5-year bonds. The current market rate was 7.5%. Cheryl received $101,136.80 for the bonds. Using the effective interest method of

Cheryl Inc issued $100,000, 8%, 5-year bonds. The current market rate was 7.5%. Cheryl received $101,136.80 for the bonds. Using the effective interest method of amortizing bond premium or discount, the amount of interest expense for the first semiannual payment was: * $3,500.00. $3,136.32. $3,386,32. $3,792.63. $4,250.00

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