On January 1, 2020, Jasper Co. issued $300,000 of 10%, 3-year bonds at an effective interest rate (i.e, market rate) of 12%, receiving proceeds of $285,260. Interest is payable semiannually on June 30 and December 31. The company uses the effective interest method. Which of the following statements is NOT true regarding this bond? The net carrying value will increase over the life of the bond. The effective interest rate method will record more interest expense over the term of the bonds than straight-line method. The effective interest rate method and the straight-line method record the same semi-annual cash payments of interest. The dollar amount of interest expense recognized each semi-annual interest period will vary over the term of the bond