On January 1, a company issued 5%, 15-year bonds with a face amount of $80 million for $59,249,660 to yield 8%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement?

value: 2.00 points On January 1, a company issued 5%. 15-year bonds with a face amount of $80 million for $59.249,660 to yield 8%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement? (Enter your answers In whole dollars. Round your intermediate calculations to the nearest dollar amount.) January 1 5 59,249,660 June 30 $ 2,000,000 December 31 2,000,000 _ Total !_ References eBook & Resources Worksheet Difculty: 1 Easy Learning Objective: 14-02 Account for bonds issued at face value. at a discount, or at a premium, recording interest using the effective interest method or using the straight-line method. Check my work