Nevada Corporation issued ten thousand $1,000 bonds on January 1, 2017 for $11,487,747. The bonds carry a stated rate of interest of 8%, mature in ten years, and pay interest semiannually on June 30th and December 31st . The market rate of interest at the time the bonds were issued was 6%. Nevada uses the effective interest method for amortizing bond discounts and premiums. _____ 5. Total interest expense Nevada would report on its income statement for the year ended December 31, 2017 relative to these bonds is closest to: A) $800,000 B) $600,000 C) $689,265 D) $687,603