TB MC Qu$.10-111($Algo$)$ A company issued...

A company issued $5-$year, $7\%$ bonds with a par value of $$1,000,000.$ The market rate when the bonds were issued was $6\mathrm{.}5\%.$ The company received $$1,010,000$ cash for the bonds. Using the straight$-$line method, the amount of recorded interest expense for the first semiannual interest period is:

$$36,000.$

$$69,000.$

$$35,000.$

$$34,000.$

$$70,000.$