price is $$3,440,000$ and the market rate of interest for similar bonds is $9\%.$ The bond premium or discount is being amortized at a rate of $$10\mathrm{.}333$ every

six months. The amount of interest expense recognized by Congo Express Airways on the bond issue in Year $1$ would be:

Multipie Choite

$$300,000$

$$337,500$

$$160,333.$

$$320,666.$

$$279\mathrm{.}334.$