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On January 1, a company issued 4%, 20-year bonds with a face amount of $780,000 for $676,000 to yield 7%. Interest is paid semiannually. Calculate

On January 1, a company issued 4%, 20-year bonds with a face amount of $780,000 for $676,000 to yield 7%. Interest is paid semiannually.

Calculate the straight-line interest expense on December 31

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