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A company issued 10-year, 6.75% bonds with a face value of $100,000. The company received $97,897 for the bonds. Using the straight-line method of amortization,

A company issued 10-year, 6.75% bonds with a face value of $100,000. The company received $97,897 for the bonds. Using the straight-line method of amortization, the amount of interest expense for the first interest period is:

$6,539.70

$6,960.30

$6,750.00

$2,103.00

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