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On January 1, 2020, Coronado Industries sold 13% bonds with a face value of $2850000. The bonds mature in five years, and interest is paid

On January 1, 2020, Coronado Industries sold 13% bonds with a face value of $2850000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $3064900 to yield 11%. Using the effective-interest method of amortization, interest expense for 2020 is

$370500. $313500. $336222. $337089.

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