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as detailed as possible! thank you! Pearson Co issue its $119,000 at a price of 103, the stated rate is 8%, the bond term is

image text in transcribed as detailed as possible! thank you!

Pearson Co issue its $119,000 at a price of 103, the stated rate is 8%, the bond term is 4 years, and the market rate is 5%. Assume the term of the bonds is 4 years. Using the straight line method of amortization, the interest expense in the 1st year will be $

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