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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 expense associated with these bonds that Sparks will report for the year ended December 31, 2021

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