Fallon Industries issues $3,000,000 worth of three-year bonds dated January 1, 2015 The bonds pay interest of 5.5% annually on December 31. The market interest rate on bonds of comparable risk and term is 5%. The sales proceeds of the bonds are $3,040,849. Under the straight-line method, the interest expense in the first year is closest to: a) $150,000 b) $151,384 c) $152,042 MacBook Pro