On July 1, 2023, Brownlee Corporation issues $1,500,000 of 10 - year, 9% bonds dated July 1,2023 at 88 . Brownlee uses the straight - line method of amortization. Interest is paid each July 1 and January 1 . Brownlee Corporation's fiscal year end is June 30. The interest expense recognized for the first semiannual interest payment on January 1 , 2024 is: A. $76,500. B. $135,000. C. $67,500. D. $58,500. On July 1, 2023, Brownlee Corporation issues $1,500,000 of 10 - year, 9% bonds dated July 1,2023 at 88 . Brownlee uses the straight - line method of amortization. Interest is paid each July 1 and January 1 . Brownlee Corporation's fiscal year end is June 30. The interest expense recognized for the first semiannual interest payment on January 1 , 2024 is: A. $76,500. B. $135,000. C. $67,500. D. $58,500