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Cullumber Company received proceeds of $710500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $670000, pay interest

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Cullumber Company received proceeds of $710500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $670000, pay interest annually on December 31, and have a call price of 108. Cullumber uses the straight-line method of amortization. What is the amount of interest Cullumber must pay the bondholders in 2019? $57888 $56840 $5684 $53600

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