On January 1, 2014, the Kings Corporation issued 10% bonds with a face value of $110,000. The bonds are sold for $107,800. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2023. Kings records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31, 2014.

Select the correct answer.

$2,200

$11,000

$11,220

$10,780