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A company issues $15000000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds

A company issues $15000000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14653278. What is interest expense for 2021, using straight-line amortization?

$887336

$1242699

$879385

$870000

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