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Franco Company issued $1,000,000 of 5 -year, 5% bonds on January 1,2023 . The bonds pay interest semi-annually on July 1 and January 1. If

Franco Company issued $1,000,000 of 5 -year, 5% bonds on January 1,2023 . The bonds pay interest semi-annually on July 1 and January 1. If the bonds are issued at par, interest expense for 2023 is a. $0. b. $25,000 c. $50,000. d. $10,000

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