On January 2, 2023, Oriole Ltd. sold five-year, 5% bonds with a face value of $516000. Interest will be paid semi-annually on June 30 and December 31. The bonds were sold for $493990 to yield 6%. Using the effective interest method of amortization of bond discount or premium, interest expense for 2023 is $30960. O $14820. $25800. $29697.