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Dexter Inc. has $ 1 , 0 0 0 , 0 0 0 in face value bonds with a 6 % stated interest rate outstanding.

Dexter Inc. has $

1, 000, 000

in face value bonds with a

6 %

stated interest rate outstanding. The bonds have a current carrying value of $

990, 000

and an effective interest rate of

7 % .

Interest expense for the next semi

-

annual interest payment is ?

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