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Auerbach inc. Issued 10% bonds on October 1,2021 , The bonds have a maturity date of September 30,2031 and a face value of $350 million.
Auerbach inc. Issued 10% bonds on October 1,2021 , The bonds have a maturity date of September 30,2031 and a face value of $350 million. The bonds pay interest each March 31 and September 30 , beginning March 31,2022 . The effective interest rate established by the market vas 12%. Assuming that Auerbach issued the bonds for $309,853,600, what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Multople Choice so $10,500,000
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