On November 1, 2019, Davis Company issued $30,000, ten-year, 8% bonds for $28,980. The bonds were dated November 1, 2019, and interest is payable each November 1 and May 1. Davis uses the straight-line method of amortization.
How much is the semi-annual interest expense when the straight-line method of amortization is utilized?
Multiple Choice
$2,298.
$1,251.
$2,502.
$2,349.