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On January 1, 2021, Peverell Company sold $290,000 of 8% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were

On January 1, 2021, Peverell Company sold $290,000 of 8% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $253,860, priced to yield 10%.

How much interest expense should Peverell Company report for the six months ended June 30, 2021?

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