Exercise 7-16 (Algo) Bonds payable-record issuance and discount amortization LO 7-8 [The following information applies to the questions displayed below] Alexi Company issued $3.60 million face amount of 5%, 10-year bonds on June 1,2022 . The bonds pay interest on an annual basis on May 31 each year. xercise 7-16(Algo) Part c - Calculate the interest expense that Alexi Company will show with respect to these bonds in its income statement for the fiscal year inded September 30,2022 , assuming that the discount of $359,000 is amortized on a straight-line basis