On January 1, the Elias Corporation issued 6% bonds with a face value of $97,000. The bonds are sold for $94,090. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Elias Corporation records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31 of the first year is $485 $2,910 $5,820 $6,111