Crane Company received proceeds of $380500 on 10-year, 8% bonds issued on January 1, 2016. The bonds had a face value of $360000, pay interest annually on December 31st, and have a call price of 106. Crane uses the straight-line method of amortization. What is the amount of interest expense Crane will show with relation to these bonds for the year ended December 31, 2017?