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On January 1, 2021, Braburt Co. sold six-year, 5% bonds with a face value of $700,000. Interest is paid semi-annually on June 30 and December

On January 1, 2021, Braburt Co. sold six-year, 5% bonds with a face value of $700,000. Interest is paid semi-annually on June 30 and December 31. The bonds were sold for $737,014 to yield 4%. Using the effective-interest method of amortization, interest expense for 2021 is: Question 5 options: $28,000 $35,000 $29,425 $29,481

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