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What is the interest expense for the six months

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Question 1: On January? 1, 2019, Chin Corporation issued? $2,900,000, 16%, 5 minus-year bonds. The bond interest is payable on January 1 and July 1. The bonds sold for? $3,119,600. The market rate of interest for these bonds was? 14%. Under the effective minus-interest ?method, what is the interest expense for the six months ending July? 1, 2019?

Option A. ?$249,568

Option B. ?$232,000

Option C. ?$203,000

Option D. ?$218,372

Reference no: EM132498786

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