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A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19, 604, 145. Using effective-interest amortization, how much interest expense will be recognized in 2007? a. $780,000 b. $1, 560,000 c. $1, 568, 498 d. $1, 568, 332 A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19, 604, 145. Using effective-interest amortization, what will the carrying value of the bonds be on the December 31, 2007 balance sheet? a. $19, 612, 643 b. $20,000,000 c. $19, 625, 125 d. $19, 608, 310