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On January 1, a company issued $3,078,855 of 20 year bonds with a coupon rate of 5%, payable semi-annually on June 30 and December 31.

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On January 1, a company issued $3,078,855 of 20 year bonds with a coupon rate of 5%, payable semi-annually on June 30 and December 31. The bonds were issued at a price of $3,330,631. How much total interest expense will the company recognize on the bonds from the issuance date to the maturity date? What was the issuance price of the bonds? Provide your answer to the nearest whole dollar (no decimals)

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