On January 1 of Year 1. Congo Express Airways issued $2,500,000 of 7% bonds that pay interest semiannually on December 31 and June 30. The bond issue price is $2.280,000 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of $7,333 every six months. The amount of interest expense recognized by Congo Express Airways on the bond issue in Year 1 would be: Multiple Choice O $189,666. 0 $175,000 O $160,334 0 $94,833 0 $200,000