On January 1, a company issued 2%, 10-year bonds with a face amount of $70 million...

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On January 1, a company issued 2%, 10-year bonds with a face amount of $70 million for $58,553,901 to yield 4%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement (which) includes interes expense for the entire year)? (Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount.) On January 1, a company issued 2%, 10-year bonds with a face amount of $70 million for $58,553,901 to yield 4%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement (which) includes interes expense for the entire year)? (Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount.)