Instructions Multiple Attempts Not allowed. This test can only be taken once. Force Completion Once started, this test must be completed in one sitting. Do not leave the test before clicking Save and Submit. This test does not allow backtracking. Changes to the answer after submission are prohibited. Question Completion Status: 20 30 4 50 8 9 10 11 12 13 14 15 16 17 18 19 20 Moving to the next question prevents changes to this answer. Question 7 of 20 Question 7 5 points Save Answer On June 30, 2021, Moran Corporation issued $4 million of its 8% bonds for $3.5 million. The bonds were priced to yield 9.4%. The bonds are dated June 30, 2021. Interest is payable semiannually on December 31 and July 1. If the effective interest method is used, by how much should the bond discount be reduced for the six months ended December 31, 2021? O $4,500. $4,800. $9,000. $3,500. A Moving to the next question prevents changes to this answer. Question 7 of 20