On January 1, a company issued 6%, 20-year bonds with a face amount of $50 million for
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Question:
On January 1, a company issued 6%, 20-year bonds with a face amount of $50 million for $44,661,231.92 to yield 7%. Interest is paid semiannually. What was interest expense at the effective interest rate on June 30, the first interest date? |
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