On January 1,2019,when the Market Rate Was 8%,Valtra Corporation Issued

Short Answer

On January 1,2019,when the market rate was 8%,Valtra Corporation issued $800,000,10%,10-year bonds.Interest is payable semiannually on July 1 and January 1.The bonds were issued for $908,732.When the July 1,2019 interest payment is recorded,what amount should be recorded as interest expense,using the effective interest method?