A company issued seven-year, 8% bonds with a par value of $200,000. The market rate when the bonds were issued was 5.5%. The company received $203,010 cash for the bonds. Using the straight-line method, the amount of recorded interest expense for the first semiannual interest period is: 1) $8,000 2) $8,215 3) $7,785 4) $16,000 5) $4,990