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On November 1, 2013, Davis Company issued $30,000, five-year, 9% bonds for $29,620. The bonds were dated November 1, 2013, and interest is payable each

On November 1, 2013, Davis Company issued $30,000, five-year, 9% bonds for $29,620. The bonds were dated November 1, 2013, and interest is payable each November 1 and May 1. How much is the semi-annual interest expense when the straight-line method is utilized? $2,776. $2,662. $1,388. $2,624.

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