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On November 1, 2015, Davis Company issued $30,000, eight-year, 9% bonds for $29,248. The bonds were dated November 1, 2015, and interest is payable each

On November 1, 2015, Davis Company issued $30,000, eight-year, 9% bonds for $29,248. The bonds were dated November 1, 2015, and interest is payable each on May 1 and November 1. Davis uses the straight-line method of amortization. How much is the semi-annual interest expense when the straight-line method of amortization is utilized?

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