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On 31 December 20X0, 008Corporation issuesa bond with a three year maturity and a principal of $1,000. The coupon rate is 10% per annum. The

On 31 December 20X0,008Corporationissuesa bond with a three year maturity and a principal of $1,000. The coupon rate is 10% per annum. The current market rate on similar bonds is 12%.

What is income statement interest expense for 20x1?

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