Mcglore Corporation issued $300,000 of 8%, 5-year bonds payable on January 1, 2022. The market interest rate when the bonds were issued was 10%. Interest is paid semiannually on January 1 and July 1. The first interest payment is July 1, 2022. Using the effective-interest amortization method, how much interest expense will Mcglore record on July 1, 2022? Use Excel to calculate the issue price. (Round intermediary calculations to the nearest whole dollar.) O A. $15,000 B. $12,000 C. $1,842 D. $13,842 O E. $11,073