On January 1, Year 1. Jones Company issued bonds with a $130,000 face value, a stated rate of interest of 70%. and a 5 year term to maturity, The bonds were issised at 97 . Interest is payable in cash on December 3 ist of each year. The company amortikes bond discounts and premiums using the straight-line method. What is the amount of interest expense shown on Jones' income statement for the year encing December 31. Year 1 ? Minitiole Choice 59,600 $9,100 $10,660