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A three-year annual pay bond (nominal value CU 40,000) is issued for cash proceeds of CU 38,987. It has an effective interest rate of 9%

A three-year annual pay bond (nominal value CU 40,000) is issued for cash proceeds of CU 38,987. It has an effective interest rate of 9% and pays an 8% coupon. What is the interest cost to be recognized in the statement of profit or loss for Year 1? CU 3,600 CU 3,509 CU 3,200 CU 3,119

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