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On January 1, 2021, Morton Sales Co. Issued zero-coupon bonds with a face value of $6 million for cash. The bonds mature in 10 years
On January 1, 2021, Morton Sales Co. Issued zero-coupon bonds with a face value of $6 million for cash. The bonds mature in 10 years and were issued at a price of $3,050100,(EVof S1, PV. OLSI. EVA OSJ. PVA of S1,EVAD OLS1 and PVAD OLS.) (Use appropriate factor(s) from the tables provided.) Required: What amount of interest expense on these bonds would Morton Sales Co, report in its 2021 income statement? (Enter your answer rounded to the nearest whole dollar.) interest expense
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