Ranier Company issues $$10,000,000,7\mathrm{.}8\%,20-$year bonds to yield $8\%$ on January $1,20$X$1.$ Interest is paid on June $30$ and December $31.$ The proceeds from the bonds are $$9,802,072.$ Using effective$-$interest amortization, how much interest expense will be recognized in $20$X$1$ and how much interest paid will be paid in $20$X$1?$

Question $22$ options:

$$784,166$ Interest Expense; $$800,000$ Interest Paid

$$784,249$ Interest Expense; $$800,000$ Interest Paid

$$780,000$ Interest Expense; $$800,000$ Interest Paid

$$784,249$ Interest Expense; $$780,000$ Interest Paid