On November 1, 2018, Arch Services issued $330,000 of eightyear bonds with a stated rate of 15% at par. Interest payments occur each April 30 and October 31. On December 31, 2018, Arch made an adjusting entry to accrue interest at yearend. What is the amount of Interest Expense that will be recorded on December 31, 2018? (Do not round any intermediate calculations, and round your final answer to the nearestdollar.)

A.

$1,031

B.

$49,500

C.

$8,250

D.

$24,750