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On January 1, Year 1. Weller Company issued bonds with a $410,000 face value, a stated rate of interest of 9%, and a 10-year term

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On January 1, Year 1. Weller Company issued bonds with a $410,000 face value, a stated rate of interest of 9%, and a 10-year term to maturity. Weller uses the effective Interest method to amortize bond discounts and premiums. The market rate of Interest on the date of issuance was 7%. Interest is paid annually on December 31 Assuming Weller issued the bond for $433,940, what is the amount of Interest expense that will be recognized during Year 3? (Round your Intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $18.450 $44370 $20.00 $29430

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