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A company issues $ 25250000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The
A company issues $ 25250000, 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 $ 24666356. Using effective-interest amortization, how much interest expense will be recognized in 2020?
a $ 1480214
b $ 732250
c $ 1480007
d $ 1464500
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