On January 1 of the current year, the Queen Corporation issued 8% bonds with a face value of $96,000. The bonds are sold for $93,120. 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 bond discount. Determine the bond interest expense for the year ended December 31. Select the correct answer. $2,880 $7,680 $8,256 O $640