Ventura Publisher of Vanity Gardens issues bonds to raise capital and on January $3,2021,$ issued a four$-$year, $$10,000,7\%$ bond. The interest is payable annually each December $31.$ The issue price $($carrying value$)$ was $$9,668$ based on an $8\%$ market interest rate.

Based on this information the interest expense on the income statement for the year ended December $31,2021$ is closest to:

$02$:$52$:$16$

Multiple Choice

$$677.$

$100\%$

$$700.$

$$773.$

$$883.$