InterTech Corporation needed financing to build a new manufacturing plant. On June 30 of this year, InterTech issued $3,915,000 of 8-year bonds

with a 6% coupon rate (payments due on December 31 st and June 30th). The effective interest rate was 8%. What amount in interest expense did

InterTech record this year for the December 31 payment?

Select one:

a. $176.271

b. $138,353

c. None of these are correct.

d. $156,600

e. $103.764