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On January 1, 2014, the Queen Corporation issued 6% bonds with a face value of $99,000. The bonds are sold for $96,030. The bonds pay

On January 1, 2014, the Queen Corporation issued 6% bonds with a face value of $99,000. The bonds are sold for $96,030. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2018. Queen records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31, 2014.

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