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Gammell Company issued $52,500 of 9% bonds with annual interest payments. The bonds mature in ten years. The bonds were issued at $49,250. Gammell Company

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Gammell Company issued $52,500 of 9% bonds with annual interest payments. The bonds mature in ten years. The bonds were issued at $49,250. Gammell Company uses the straight-line method of amortization. What is the amount of the annual interest expense? Multiple Choice O $5,050. O $4,400. $4,725. $4,918

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