Save Ex On January 1 of Year 1, Congo Express Airways issued $3,100,000 of 7% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $2,830,000 and the market rate of interest for similar bonds is 8%. The bond premium or discount is being amortized at a rate of $9,000 every six months. The company's December 31, Year 1 balance sheet should reflect total liabilities associated with the bond issue (including interest) in the amount of Multiple Choice $3,460.500 $3,352,000 $2.739,500 O $2.848,000. $2.956,500.