Question 5 2 points Save Answer On January 1 Year 1. Wayne Company issued bonds with a face value of $1,000,000, a 11 water of interest and a 10 year tom. Interest is payable in cash on December 31 of each year. Wayne uses the straight-line method to amortize bond discounts and premium Assuming Wayne issued the band for 104, what is the amount of interest expense that will be reported on the income statement for the year ending December 31. Year 17 $118.800 $114,480 - $123, 120 43.200