On January 1, a company issued 6%, 15-year bonds with a face amount of $60 million for $49,624,854 to yield 8%. Interest is paid semiannually. What was the straight-line interest expense on the December 31 annual income statement? Note: Round intermediate calculations and your final answer to the nearest whole dollar. Interest expense $ 1,860,000

On January 1, a company issued 6%,15-year bonds with a face amount of $60 million for $49,624,854 to yield 8%, Interest is paid semiannually. What was the straight-fine interest expense on the December 31 annual income statement? Note: Round intermediate calculations and your final answer to the nearest whole dollar. On January 1, a company issued 6%,15-year bonds with a face amount of $60 million for $49,624,854 to yield 8%, Interest is paid semiannually. What was the straight-fine interest expense on the December 31 annual income statement? Note: Round intermediate calculations and your final answer to the nearest whole dollar