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On January 1,2017, Chain, Inc. issued $400,000, ten-year, 10% bonds for $354,200. The bonds pay interest on June 30 and December 31 . The market

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On January 1,2017, Chain, Inc. issued $400,000, ten-year, 10% bonds for $354,200. The bonds pay interest on June 30 and December 31 . The market rate is 12%. The interest expense on the bonds at June 30,2017 is a. $24,000. b. $21,252. c. $17,710. d. $20,000

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