A company issued 5-year, 5% bonds with a par value of $109,000. The company received $106,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:
A. $2930.30.
B. $5450.00.
C. $5860.60.
D. $2519.70.
E. $2725.00.
Answer: A
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