Question: please answer with correct calculations and explanations. make sure supporting statements are also provided for each step and calculation. QUESTION: On January 2,2019, a calendar-year

please answer with correct calculations and explanations. make sure supporting statements are also provided for each step and calculation.

QUESTION: On January 2,2019, a calendar-year corporation sold 8% bonds with a face value of 600,000. These bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for 553,600 to yield 10%. Using the effective-interest method of computing interest, how much should be charged to interest expense in 2019?(Show your work for the answer C)

a.48,000.

b.55,360.

c.55,544.

d.60,000.

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