Use the following information to answer questions 5 through…

Use the following information to answer questions 5 through 7   Army Supply Company issued five-year, 7% bonds with a face value of $25,000 on January 1, 2022.  The effective rate of interest is 6%.  Army Supply sold the bonds for $26,053. The bonds pay annual interest each December 31. What amount of interest expense should Army Supply recognize for 2022?