Jones Company issued a $100.000 face value, 7 year, 3% bond on January 1 Year 1 The bond pays Interest annually on December 31st. The bond was issued when the market (effective) rate of interest was 4% and Jones Company received proceeds of $93.998 Jones Company uses the effective interest method. The amount of interest expense (rounded) for Jones In Year 1 wit be? Mic Choice o $3.000 $2820 $3.760 o $4,000