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A company issued 5-year, 7.50% bonds with a par value of $101,000. The market rate when the bonds were issued was 7.00%. The company received

A company issued 5-year, 7.50% bonds with a par value of $101,000. The market rate when the bonds were issued was 7.00%. The company received $103,126 cash for the bonds.

The amount of recorded interest expense for the first semiannual interest period?

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