When interest expense is calculated using the effective$-$interest amortization method, interest expense $($assuming interest is paid annually$)$ always equals the:

Question $33$ options:

$1)$

actual cash amount of interest paid.

$2)$

book value of the bonds multiplied by the stated interest rate.

$3)$

book value of the bonds multiplied by the effective $($market$)$ interest rate.

$4)$

maturity value of the bonds multiplied by the effective $($market$)$ interest rate.