On January 1, 2019, Solo Inc. issued $462,000 of its 7\% bonds at 107 . Interest is payable semiannually on January 1 and July 1 . The bonds mature in ten years. Solo uses straight-line amortization. The amount of interest expense for the year is: $ On January 1, 2019, Solo Inc. issued $462,000 of its 7\% bonds at 107 . Interest is payable semiannually on January 1 and July 1 . The bonds mature in ten years. Solo uses straight-line amortization. The amount of interest expense for the year is: $