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Davis Corporation sells $200,000, 12%, 10-year bonds for 104 on January 1. Compute the semiannual interest expense recorded on July 1 using the effective interest

Davis Corporation sells $200,000, 12%, 10-year bonds for 104 on January 1. Compute the semiannual interest expense recorded on July 1 using the effective interest method. The market rate is 8%.

A.12,000

B.6,000

C.4,160

D.8,320

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