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Evans Corporation sells $400,000, 12%, 10-year bonds for 98 on January 1. Compute the semiannual interest expense recorded on July 1 using the interest method.

Evans Corporation sells $400,000, 12%, 10-year bonds for 98 on January 1. Compute the semiannual interest expense recorded on July 1 using the interest method. The market rate is 15%. $29,400 $60,000 $48.000 $58,800

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