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Find the interest expense recognized

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Question - On July 1 the Stanley Corporation issues $2,000,000 of 10-year, 7.5% bonds dated July 1 at 91 when the market rate of interest is 9%.

Stanley Corporation uses the straight-line method of amortization.

Interest is paid each June 30 and December 31.

Find the interest expense recognized for the first semiannual interest payment on December 31?

A. $9,000.

B. $75,000.

C. $84,000.

D. $180,000.

Reference no: EM132596787

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