The below information is the same as the previous question. A Company issued a convertible bond payable on January 1, 20X1 as follows. Bonds payable Coupon rate Issue price Term Each $1,000 bond is convertible into Number of potential shares if 100% converted Bond conversion date Bonds converted What is interest expense for the year ended December 31, 20X4? Numeric Response $700,000 5.3% $725,000 10 years 20 shares 14,000 shares December 31, 20X3 30%