Question 27 Not yet answered Points out of 3 Flag question Martin Corporation issues $500,000, 10%, 5-year bonds on January 1, Year 1 for $479,000. Interest is paid annually on January 1. if Martin uses the straight-line method of amortization of bond discount, the amount of interest expense recognized on the income statement for the year ended 12/31/Year 1 is: Select one: O a $4,200. O b. $45,800. OC $50,000. O d. $54,200. Oe None of these choices.