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On January 1, 2019, Solo Inc. issued $281,000 of its 8% bonds at 91. Interest is payable semiannually on January 1 and July 1. The

On January 1, 2019, Solo Inc. issued $281,000 of its 8% bonds at 91. Interest is payable semiannually on January 1 and July 1. The bonds mature in ten years. Solo uses straight-line amortization. The amount of interest expense for the year is:

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