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Franklin corporation issues $ 8 7 , 0 0 0 , 8 % , 5 - year bonds on January 1 , for $ 9

Franklin corporation issues $87,000,8%,5-year bonds on January 1, for $90,920. Interest is paid semiannually on January 1 interest expense to be recognized on July 1 is
a. $3,088
b. $6,960
c. $3,872
d. $3,480
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