Hocker Company issues $$200,000$ of ten$-$year, $8\%$ bonds to yield $10\%$ on January $1,20$X$1.$ The bonds pay interest annually on December $31.$ The bonds were sold at a discount of $$24,578.$

The bond interest expense for $20$X$1$ is:

Multiple Choice

$$16,000.$

$$17,542.$

$$20,000.$

$$21,542.$