A company issued 5-year, 8% bonds with a par value of $94,000. The company received $91,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:
A. $7930.60.
B. $7520.00.
C. $3965.30.
D. $3554.70.
E. $3760.00.
Answer: C
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