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On January 1, a company issued 9%,20-year bonds with a face amount of $80 million for $73,136,724 to yield 10%. Interest is paid semiannually. What
On January 1, a company issued 9%,20-year bonds with a face amount of $80 million for $73,136,724 to yield 10%. Interest is paid semiannually. What was interest expense at the effective interest rate on June 30 , the first interest date? Note: Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial calculator
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