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On January 1, a $916,000, 10%, 5-year bond was issued for $888,520. Interest is paid...

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Accounting

On January 1, a $916,000, 10%, 5-year bond was issued for $888,520. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize the discount on bonds payable, the semiannual amortization amount is

a.$27,480

b.$2,748

c.$5,496

d.$45,800

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