On January 1, 2014, Muslin Ltd. sold five year, 8% bonds with a face value of $900,000. Interest will be paid semi-annually on June 30 and December 31. The bonds were sold to yield 10%. Using the effective interest method of amortization of bond discount or premium, interest expense for 2014 is closest to: a. $72,000 b. $83,040 c. $83,326 d. $66,551

the correct answer is 83326, Please explain how will get this answer.