XYZ Corporation issued $400,000 of 9%, 10-year bonds on January 1, 2015, for $427,182. This price provided a yield of 8% on the bonds. Interest is payable semiannually on January 1 and July 1. If XYZ uses the effective-interest method, what should be the amount of interest expense to record if financial statements are issued on December 31, 2015?