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On April 1 , year 1 , Cricket Corporation issues $52 million of 12%,10-year bonds payable at par. Interest on the bonds is payable semiannually

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On April 1 , year 1 , Cricket Corporation issues $52 million of 12%,10-year bonds payable at par. Interest on the bonds is payable semiannually each April 1 and October 1 . Interest expense on this bond issue reported in Cricket's Year 1, income statement is: Multiple Choice $6,240,000. $4,160,000. $4,680,000. $2,080,000

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