On January 1, 2018, an investor paid $300,000 for bonds with a face amount of $360,000. The stated rate of interest is 8 % while the current market rate of interest is 10 %. Using the effective interest method, how much interest income is recognized by the investor in 2018 (assume annual interest payments and amortization)? Multiple Choice $28,800. $24,000 $30,000. $36.000. $ % & 2 3 4 5 7 6 8 Q E R Y A