Sunny issued a convertible bond on January 1, 20X8, for $1,000,000, which is the face value of the bonds. The bonds are convertible into 20,000 common shares and pay interest annually on December 31 at a rate of 29%. Similar bonds without a conversion feature are priced to yield 6%. The bonds mature in seven year   What is the interest expense recognized for 20X9 related to this bon   a $48,1   b. $40,0   c. $46,0   d $60,0 00980098d?s   d $60,000

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