On January 1, the Kings Corporation issued 10% bonds with a face value of $104,000. The bonds are sold for $101,920. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, ten years from now. Kings records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31 of the first year is. Select the correct answer. $10,400 $10,1921 $10,608 $2,080