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ABC company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. The bonds

ABC company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. The bonds pay interest annually on December 31. Approximately how much interest expense will ABC Corporation record on the second annual interest payment date using the effective-interest method?

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