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On January 1, Year 1 Gibson Corporation purchased bonds issued by Willamson Company These bonds were classified as held-to-maturity securities The face value of

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On January 1, Year 1 Gibson Corporation purchased bonds issued by Willamson Company These bonds were classified as held-to-maturity securities The face value of these bonds is 5000 000, pey 6% interest and were purchased to yield 4% The bonds mature in 10 years and pay interest on an annual basis. If Gibson Corporation paid $1,045.996 for these bonds, how much interest revenue should it report on the bonds at December 31 Year 17 Assume that Gibson used the effective interest method A. $41.840 O $54.000 OC. $36.000 00562760

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