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Ferrone Company issues $10,000,000,7.8%,20-year bonds to yield 8% on January 1,2017 . Interest is paid on June 30 and December 31. The proceeds from the
Ferrone Company issues $10,000,000,7.8%,20-year bonds to yield 8% on January 1,2017 . Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. Ferrone uses effective-interest amortization. What amount of interest expense will Ferrone record for the June 30, 2017 payment? $390,000$784,164$400,000$392,083
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