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Tobin &Daniel Co. has outstanding bonds originally issued at a discount.During 2017, the unamortized bond discount decreased from $17,304 to $14,580. Annual interest (coupon) paid

Tobin &Daniel Co. has outstanding bonds originally issued at a discount.During 2017, the unamortized bond discount decreased from $17,304 to $14,580. Annual interest (coupon) paid was $14,400. The market rate of interest (the discount rate) was 12% when Tobin & Daniel Co. issued the bond. Calculate the interest expense for 2017.

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