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On January 1, 2021, Sparks Company sold $570,000 10-year, 8% bonds for $605,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line

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On January 1, 2021, Sparks Company sold $570,000 10-year, 8% bonds for $605,000. The bonds pay interest annually on December 31st. Sparks uses the straight-line method of amortization. What is the amount of interest that Sparks must pay to bondholders in 2021? Do not enter a $ sign

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