On January 1, 2007, the Kings Corporation issued 10% bonds with a face value of $119,000. The bonds are sold for $116,620. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2011. Kings records straight-line amortization of the bond discount. Determine the bond interest expense for the year ended December 31, 2007.