On January 1,2025 , French Company issued $79,000 of tive - yoar, 8% bonds when the market interest tate was 12%. The issue price of the bonds was $67,340. French uses the offective - interest method of amoitization for bond discount Semiannuat interest payments are made on June 30 and December 31 of each year. How much interest expense will be recorded when the first interest payment is made? (Round yout answer to the nearest dollar number.) A. $4,740 B. $3,160 C. $4,040 D. $2,694