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Franklin Corporation issues $89,000, 10%, five-year bonds on January 1 for $93,000. Interest is paid semiannually on January 1 and July 1. If Franklin uses

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Franklin Corporation issues $89,000, 10%, five-year bonds on January 1 for $93,000. Interest is paid semiannually on January 1 and July 1. If Franklin uses the straight-line method of amortization of bond premium, the amount of bond interest expense to be recognized on July 1 is Oa. $3,960 Ob. $3,560 Oc. $7,120 Od. $4,050

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