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On January 1, Year 1, Hanover Corporation issued bonds with a 546.500 face value, a stated rate of interest of 8x, and a 5 -year
On January 1, Year 1, Hanover Corporation issued bonds with a 546.500 face value, a stated rate of interest of 8x, and a 5 -year term to maturth, The bonds were issued at 97 . Hanover uses the straight ine method to emorize bond discounts and premivms. interest is parable in canh on Decermber 31 each year, How much interest expense will Hanover report on its income statement on December 31, Year 1
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