On January 1, 2023, Chin Corporation issued $2,600,000, 12%, 5-year bonds. The bond interest is payable on January 1 and July 1. The bonds sold for $2,819,600. The market rate of interest for these bonds was 10%. Under the effective - interest method, what is the interest expense for the six months ending July 1, 2023? OA. $130,000 OB. $169,176 OC. $156,000 O D. $140,980 ****

On January 1, 2023, Chin Corporation issued $2,600,000,12%,5 - year bonds. The bond interest is payable on January 1 and July 1 . The bonds wild for $2,819,600. The market rate of interest for these bonds was 10%. Under the effective - interest method, what is the interest expense for the sx months ending fuly 1, 2023? A. $130,000 a. $169,176 c. $156,000 D. $140,980