Table 15-2 Douglas Corporation Is Issuing $400,000 of 7.5%, Five-Year Bonds. the Bonds

Table 15-2
Douglas Corporation is issuing $400,000 of 7.5%, five-year bonds. The bonds are dated and sold on March 1, 2017. Interest payment dates are March 1 and September 1. The market interest rate is 8% and the bonds are sold for $392,400. The company uses the effective-interest method of amortization.
-Refer to Table 15-2.What is the total interest expense for 2017,assuming all year-end adjusting entries are made?

A) $15,696
B) $31,938
C) $26,179
D) $30,000