Ellison Corporation issued $300,000, 8%, five-year bonds on January 1, 2019, for$325,591 when the market interest rate was 6%. Interest is paid semiannually on January 1and July 1. The corporation uses the effective-interest method to amortize bond discountsand premiums. The total amount of bond interest expense recognized on July 1, 2019,would be closest toa. $9,000.b. $9,768.c. $12,000.d. $24,000.

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