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On January 1 , 2 0 2 4 , Solo Incorporated issued 1 , 1 0 0 of its 6 % , $ 1 ,

On January 1,2024, Solo Incorporated issued 1,100 of its 6%, $1,000 bonds at 96. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1,2034. Solo paid $30,000 in bond issue costs. Solo uses straight-line amortization. The amount of interest expense for 2024 is:Multiple Choice$66,000.$77,800.$70,400.$73,400.

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