Company sells $500,000 of 11% 10-year

bonds for 97.116 on April 1, 2018. The market rate of interest on that day is 11.5%. Interest is paid each year on April 1. The issue price of the bond is $485,580.

Sunny DaySunny Day Company uses the straight-line amortization method.

The amount of interest expense for each year will be (Round intermediary calculations to the nearest whole number.)

A.$56,442.

B.$49,893.

C.$55,000.

D.$58,942.

E.none of these.