Ron Kenoly Inc. issued $649,100 of 8%, 9-year bonds on June 30, 2014, for $573,223. This price provided a yield of 10% on the bonds. Interest is payable semiannually on December 31 and June 30. If Kenoly uses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31, 2014.