Renewable Energy issued 5-year, 7% bonds with a par value of $200,000. The market rate when the bonds were issued was 6,5%. Renewable received $202,000 cash for the bonds. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: Multiple Choice $13.800 $6.800 $14,000 $7000 $7,200 $7.200