On January 1, 2018, Solo Inc. issued 500 of its 10%, $1,000 bonds at 105. Interest is payable semiannually on June 30 and December 31. The bonds mature on December 31, 2027. Solo paid $10,000 in bond issue costs. Solo uses straight-line amortization. The amount of interest expense for 2018 is: Multiple Choice O $47,500. o $50,000. $52,500. $55,000