Mitro Corporation issued $651,000, 7%, 10-year bonds on January 1, 2015, for $606,764. This price resulted in an effective-interest rate of 8.0% on the bonds. Interest is payable semiannually on July 1 and January 1. Mitro uses the straight-line interest method to amortize bond premium or discount.
Instructions: Calculate bond interest expense at the first interest payment date, using straight line amortization of bond premium or discount.