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On 1/1/x4, five-year semiannual 9\% term bonds with a face value of $1,000,000...

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Accounting

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On 1/1/x4, five-year semiannual 9\% term bonds with a face value of $1,000,000 were issued for $961,391. The bonds were issued to yield a market rate of 10% per year, compounded semiannually. If the straight-line method of amortization is used, what is the total interest expense for the year X4? A. $48,070 B. $48,861 C. $96,140 D. $96,293 E. $97,722

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