On January 1, 2024, Oriole Co. sold 12% bonds with a face value of $2650000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2854626 to yield 10%. If the effective-interest method of amortization is used, interest expense reported for 2024 is (Round intermediate values to 2 decimal places, e.g. 22.55.) $285420. $284649. $318000. O $265000.

On January 1, 2024, Oriole Co. sold 12% bonds with a face value of $2650000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2854626 to yield 10%. If the effective-interest method of amortization is used, interest expense reported for 2024 is (Round intermediate values to 2 decimal places, e.g. 22.55.) O $285420. O $284649. O $318000. O $265000.