Practice Question 56 On January 1, 2017, $5,000,000, 10-year, 8% bonds were issued at $5,150,000. Interest is paid each January 1 and July 1. The straight-line method of amortization is used to amortize the premium. How much is the semiannual amortization? $15,000 $7,500 $1,500 O $3,333