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Crane Corporation issues $ 4 1 6 , 0 0 0 of 8 % , 5 - year bonds on January 1 , 2 0

Crane Corporation issues $

416, 000

8 %, 5 -

year bonds on January

1, 2022,

105 .

Assuming that the straight

-

line method is used to amortize the premium, what is the total amount of interest expense for

2022 ?

Total amount of interest expense

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