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On January 1 , a company issued 7 % , 1 5 Year bonds with a facc amount of $ 9 0 million for $

On January 1, a company issued 7%,15 Year bonds with a facc amount of $90 million for $82,218,695 to yield 8%. Interest is paid semiannually. What was interest expense at the effective interest rate on June 30, the first interest date?
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