On January 1 of Year 1, Congo Express Always issued $3,150,000 of 5% bonds thot pay interest semiannually on Januory 1 and July 1 . The bond issue price is $2,840,000 and the market rate of interest for similar bonds is 6%. The bond premium or discount is being amortized at a rate of $10,333 every six months. The amount of interest expense recognized by Congo Express Airways on the bond issue in Year 1 would be: Mutipte Cnoice $178.156. 5160.000 $157,500 589,083 \$136. 834