The Levi Company issued $96,000 of 6% bonds on January 1 of the current year at face value. The bonds pay interest semiannually on June 30 and December 31. The bonds are dated January 1, and mature in...

Extracted text: The Levi Company issued $96,000 of 6% bonds on January 1 of the current year at face value. The bonds pay interest semiannually on June 30 and December 31. The bonds are dated January 1, and mature in five years, on January 1. Determine the total interest expense related to these bonds for the current year ending on December 31 is a. $2,880 b. $4,320 Oc. $480 Od. $5,760