On January 1 of the current year, the Queen Corporation issued 7% bonds with a face value of $58,000. The bonds are sold for $56,260. 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. $338 $1,740 $4,060 $4,408