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6. On January 1, 2020, ABC Company sold 12% bonds with a face value of $300,000. The bonds mature in 5-years, and interest is paid

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6. On January 1, 2020, ABC Company sold 12% bonds with a face value of $300,000. The bonds mature in 5-years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $328,164 to yield 10%. Using the effective-interest method of amortization, interest expense for 2020 is: (2 Points) 36,000 32,224 32,316 30,000

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