On January 1 or Year 1. Congo Express Airways issued $3,250.000 of 7bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $2.970,000 and the market rate of interest for similar bonds is 3* The bond premium or discount is being amortized at a rate of $9.333 every six months. After accruing interest at year end, the company's December 31, Year 1 balance sheet should reflect total abilities associated with the bond issue in the amount of: Multiple Choice $2.874,916 $3,102,416 0 0 0 0 0 $3.625.084 $2.988.666 $3,511,334