On January 1, 2024, Wildhorse Co. sold 12% bonds with a face value of $2400000. The...

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On January 1, 2024, Wildhorse Co. sold 12% bonds with a face value of $2400000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2585322 to yield 10%. If the effective-interest method of amortization is used, interest expense reported for 2024 is (Round intermediate values to 2 decimal places, e.g. 22.55.) O $240000. O $288000. O $258490. $257795. On January 1, 2024, Wildhorse Co. sold 12% bonds with a face value of $2400000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2585322 to yield 10%. If the effective-interest method of amortization is used, interest expense reported for 2024 is (Round intermediate values to 2 decimal places, e.g. 22.55.) O $240000. O $288000. O $258490. $257795.