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Alex Limited issued its 8%, 20-year debentures payable at a price of 846720 (maturity value is $700 000). The firm uses the straight-line amortisation method

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Alex Limited issued its 8%, 20-year debentures payable at a price of 846720 (maturity value is $700 000). The firm uses the straight-line amortisation method for the debenture. Interest expense for the fifth year is

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