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Jones Corporation issues $500,000, 3-year, 12% bonds at 95 On January 1, 2015, following the payment of semiannual interest. The market rate of interest for
Jones Corporation issues $500,000, 3-year, 12% bonds at 95 On January 1, 2015, following the payment of semiannual interest. The market rate of interest for these bonds is 14%. What is the interest expense of the bonds on the third interest date, using effective-interest method?
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