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Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300
Auerbach Inc. issued 4% bonds on October 1, 2021. The bonds have a maturity date of September 30, 2031 and a face value of $300 million. The bonds pay interest each March 31 and September 30, beginning March 31 2022. The effective interest rate established by the market was 6% Assuming that Auerbach issued the bonds for $255.368.820, what interest expense would it recognize in its 2021 income statement? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) 0656 Multiple Choice $0. $3,830532 $7661065 $4,500,000
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