On January 1,2010,Jacob Issues $600,000 of 11%,15-Year Bonds at a Price

On January 1,2010,Jacob issues $600,000 of 11%,15-year bonds at a price of 102½.Six years later,on January 1,2016,Jacob retires 30% of these bonds by buying them on the open market at 98½. All interest is accounted for and paid through December 31,2015,the day before the purchase.The straight-line method is used to amortize any bond discount. What is the total interest expense for the life of the bond?

A) $975,000
B) $964,000
C) $936,000
D) $772,000
E) $990,000