McPherson Corporation issued \(\$ 100,000\) of \(10 \%\), five(\$.) year bonds on January 1,2020 , for \(\$ 92,280\). The market interest rate when the bonds were issued was \(12 \%\). Interest is paid semi-annually on January 1 and July 1. The first interest payment is July 1, 2020. Using the effectiveinterest amortization method, how much interest expense will McPherson record on July 1,2020 ?

a. \(\$ 6,000\)

b. \(\$ 5,228\)

c. \(\$ 6,772\)

d. \(\$ 5,000\)

e. Some other amount ( \(\$\)