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A company issues $17100000, 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 $17100000, 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 $16704737. Using effective-interest amortization, how much interest expense will be recognized in 2020?
a. $1002441
b. $1002317
c. $495900
d. $991800
A company issues $17100000, 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 $16704737. Using effective-interest amortization, how much interest expense will be recognized in 2020?
a. $1002441
b. $1002317
c. $495900
d. $991800
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