Designer Company issued $10-$ year bonds on January $1.$ The $5\%$ bonds have a face value of $$702,000$ and pay interest every January $1$ and July $1.$ The bonds were sold for $$583,439$ based on the market interest rate of $6\%.$ Designer uses the effective interest rate method to amortize bond discounts and premiums. On July $1$ of the first year, Designer should record interest expense $($round to the nearest dollar$)$ of

a$.$ $$17,550$

b$.$ $$21,060$

c$.$ $$14,586$

d$.$ $$17,503$