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Bond Interest Expense Smith & Sons, Inc., sold $400,000 face value, seven percent coupon rate, four-year bonds, for an aggregate issue price of $395,000. Calculate
Bond Interest Expense Smith & Sons, Inc., sold $400,000 face value, seven percent coupon rate, four-year bonds, for an aggregate issue price of $395,000.
Calculate the total interest expense to be recorded by the company over the four-year life of the bonds. $Answer
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