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On January 1, 2017 a calendar-year corporation sold $100,000 of its 5%, 5-year bonds. The bonds pay interest semi-annually on June 30 and December 31.

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On January 1, 2017 a calendar-year corporation sold $100,000 of its 5%, 5-year bonds. The bonds pay interest semi-annually on June 30 and December 31. The bonds sold for $95,735 to yield the purchasers a return of 6%. Using the effective interest method of amortization, how much should the company charge to interest expense for the year 2017

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