On January 1 of Year 1, Congo Express Airways issued $3,750,000 of 8 % bonds that pay Interest semiannually on January 1 and July 1. The bond issue price is $3,440,000 and the market rate of interest for similar bonds is 9%. The bond premium or discount is being amortized at a rate of $10,333 every six months. After accruing interest at year end, the company's December 31, Year 1 balance sheet should reflect total liabilities associated with the bond issue In the amount of Multiple Choice 011707 $3,310,666 $4,039,334 $4,189,334 $3,460,666. $3,610,666 MacBook Air