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On January 1, 2017, Oriole Company sold 12% bonds with a face value of $2500000. The bonds mature in five years, and interest is paid
On January 1, 2017, Oriole Company sold 12% bonds with a face value of $2500000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2693100 to yield 10%. Using the effective-interest method of amortization, interest expense for 2017 is
Options:
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| $300000. |
|
| $268543. |
|
| $250000. |
|
| $269260. |
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