On January 1, 2015, Kramer International Inc. issued $400,000, 9%, 5-year bonds for $384,556. The bonds were sold to yield an effective interest rate of 10%. Interest is paid semi-annually on June 30 and December 31. The company uses the effective-interest method of amortization. How much interest expense will be accounted for in 2015?

A.$19,289.20

B.$19,227.80

C.$38,517.00

D.$38,455.60

E.None of the other alternatives are correct