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On January 1, 2012, Gore Co. sold to Cey Corp. $600,000 of its 10% bonds for $531,177 to yield 12%. Interest is payable semiannually on

On January 1, 2012, Gore Co. sold to Cey Corp. $600,000 of its 10% bonds for $531,177 to yield 12%. Interest is payable semiannually on January 1 and July 1. What amount should Gore report as interest expense for the six months ended June 30, 2012?

$26,559

$30,000

$31,871

$36,000

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