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On January 1 , $ 9 7 6 , 0 0 0 , 5 - year, 1 0 % bonds were issued for $ 9

On January 1, $976,000,5-year, 10% bonds were issued for $946,720. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize a discount on bonds payable, the semiannual amortization amount is
a. $29,280
b. $5,856
c. $48,800
d. $2,928

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