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On January 1, 2010, ABX Company issues $1.000.000 of 7-year, 5% coupon bonds with the yield to maturity of 5.459. The interest is payable annually

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On January 1, 2010, ABX Company issues $1.000.000 of 7-year, 5% coupon bonds with the yield to maturity of 5.459. The interest is payable annually on December 31 Calculate the interest expense in 2011. Uso the offective interest rato mothod for amortization Round to the nearest dollar

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