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Willa Inc issued $110,000, 9%, 5-year bonds. The current market rate was 9.5%. Willa received $106,000 for the bonds. Using the effective interest method, the

Willa Inc issued $110,000, 9%, 5-year bonds. The current market rate was 9.5%. Willa received $106,000 for the bonds. Using the effective interest method, the amount of interest expense to be recorded for the first semiannual payment was: * $3,750.00. $3,910.60. $5,035.00. $6,500,00. $7,000.00

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