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On January 1, 2009, Shields, Inc., issued $800, 000 of 9%, 20-year bonds for $879, 172, yielding a market (yield) rate of 8%. Semiannual interest

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On January 1, 2009, Shields, Inc., issued $800, 000 of 9%, 20-year bonds for $879, 172, yielding a market (yield) rate of 8%. Semiannual interest is payable on June 30 and December 31 of each year. Calculate the semiannual interest payment recorded on December 31, 2009

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