Hocker Company issues $200,000 of ten-year, 8% bonds to yield 10% on January 1, 20x1 The bonds pay interest annually on December 31 The bonds were sold at a discount of $24,578 The bond interest expense for 20x1 is Multiple Choice $16,000 $17,542 $16,000 O $17,542 $20,000 O $21,542