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A company issues $650,000 of 6%, 4-year bonds on January 1, 2020. The market interest rate is 7% and interest is paid annually on December
A company issues $650,000 of 6%, 4-year bonds on January 1, 2020. The market interest rate is 7% and interest is paid annually on December 31. How much bond interest expense would the company record on the first interest date? Please use PV tables and round your final answer to the nearest dollar.
a) $34,712
b) $43,959
c) $37,679
d) $39,000
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