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QUESTION 21 On January 1, 2023, Entity D issued $500,000 of 7%, 5-year bonds at 97. The bonds pay interest annually on December 31 and

QUESTION 21 On January 1, 2023, Entity D issued $500,000 of 7%, 5-year bonds at 97. The bonds pay interest annually on December 31 and Entity D amortizes any premium or discount using the straight-line method. What is the annual interest expense on the bonds? $35,000. $32,000. $38,000. $50,000.

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