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On January of this year, Cunningham Corporation issued bonds with a face value of $ and a coupon rate of percent. The bonds mature in years and pay interest annually every December When the bonds were sold, the annual market rate of interest was percent. The company uses the effectiveinterest amortization method. By December of this year, the annual market rate of interest had increased to percent. FV of $ PV of $ FVA of $ and PVA of $
Note: Use appropriate factors from the tables provided.
What amount of interest expense is recorded on December of this year?
Note: Round "Interest expense" to whole dollars.
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