On July 1, 2026, an investor paid $291,000 for bonds with a face amount of $300,000. The stated rate of interest is 8% while the current market rate of interest is 10%. Using the effective interest method, how much interest income is recognized by the investor in 2026 (assume annual interest payments and amortization)?

Group of answer choices

$11,640.

$14,550.

$12,000.

$15,000.