A company issued $7\%,5-$year bonds with a par value of $$100,000.$ The market rate when the bonds were issued was $7\mathrm{.}5\%.$ The company received $$97,948$ cash for the bonds. Using the effective interest method, compute the amount of interest expense for the second semiannual interest period $($round to $2$ decimals$).$

Multiple Choice

$$3,500\mathrm{.}00.$

$$3,679\mathrm{.}54.$

$$3,673\mathrm{.}01.$

$$7,000\mathrm{.}00.$

$$7,346\mathrm{.}03.$