On January 1 of the current year, the Queen Corporation issued 9% bonds with a face value of $100,000. The bonds are sold for $97,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, five years from now. Queen records straight-line amortization of the band discount. Determine the bond interest expense for the year ended December 31. Select the correct answer $3.000 $9.500 59.000 $750