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Bard's Manufacturing issued bonds at 6% annual interest with a $12,000 face value. Then the market interest rate was 9%. Assume the company uses the

Bard's Manufacturing issued bonds at 6% annual interest with a $12,000 face value. Then the market interest rate was 9%. Assume the company uses the effective interest rate method. What is the amount of the first years interest payment to the bondholders?

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