Dance Company Issued 6%, 5 Year Bonds, with Par Value

Dance Company issued 6%, 5 year bonds, with par value of $2,400,000, paying semiannual interest for $2,205,339. The annual market rate of interest on the date of issue was 8%.
Assuming effective interest method of amortization, calculate the bond interest expense on the first interest payment date.

A) $ 88,214
B) $ 72,000
C) $194,661
D) $176,427