On January 1, the Kings Corporation issued 10% bonds with a face value of $103,000. The bonds are sold for $100,940. 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. $10,094 $10,506 $2,060 $10,300