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Cubs Corporation issues 480,000,9 %,5 year bonds on January 1, 2023 for 469,000. Interest is paid annually on January 1. If Cubs Corporation uses the

Cubs Corporation issues 480,000,9 %,5 year bonds on January 1, 2023 for 469,000. Interest is paid annually on January 1. If Cubs Corporation uses the straightline method of amortization of bond discount, the amount of interest expense recorded at December 31, 2023 would be:

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