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In the Fox Co. entry to accrue semi-annual interest , using straight-line amortization , on $400,000, 10%, 6-year bonds issued at 106 when market rate

In the Fox Co. entry to accruesemi-annual interest, usingstraight-line amortization, on $400,000, 10%, 6-year bonds issued at 106 when market rate was 8%, what is the interest expense amount?

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$16,960

$16,000

$22,000

$18,000

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