Shop It issued $34,500,4-year, 5% bonds on January 1,2025 , for $33,681. The effective interest rate is 5.68%. Interest is payable on January 1 of each year. Shop It uses the effective-interest method to amortize bond discount. Determine (a) annual interest expense for 2025, and (b) total cost of borrowing. (Round answers to the nearest whole number, e.g. 25,000.) (a) Annual interest expense for 2025$ (b) Total cost of borrowing $ Attempts: 0 of 3 used