Designer Company issued 10-year bonds on January 1. The 6% bonds have a face value of $729,000 and pay interest every January 1 and July 1. The bonds were sold for $605,879 based on the market interest rate of 7%. 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. $25,515 X Ob. $18,176 c. $21,870 Od. $21,206