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On January 1, a company issued 4%, 10-year bonds with a face amount of $75 million for $63,842,205 to yield 6%. Interest is paid semiannually.

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On January 1, a company issued 4%, 10-year bonds with a face amount of $75 million for $63,842,205 to yield 6%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement? (Enter your answers in whole dollars. Round your intermediate calculations to the nearest dollar amount.) Cash Interest Paid Bond Interest Expense Amortization Carrying Value $ 63,842,205 Period-End January 1 June 30 December 31 Total

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