Remaining Time: 49 minutes, 53 seconds. Question Completion Status: Close Window Moving to another question will save this response. Question 7 of 9 Question 7 1 points Save Answer Jacob Company sold $1,000,000 of 6%, 10-year bonds at 96 on January 1, 2021. The bonds were dated January 1, 2021 and pay interest on June 30 and December 31. Jacob paid $50,000 in bond issue costs. If Jacob uses the straight-line amortization, the amount of interest expense for year 2021 would be: (Do not add dollar sign; do not add comma by yourself to your amount round the answer to the whole number) Question 7 of 9 Moving to another question will save this response Close Window # 3 $ 4 % 5 & 7 8 2 R. T W Y S H D F . Txov N M