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On January 1,2021, Money Inc. issued ten-year bonds with a face value of $6,000,000 and a stated interest rate of 12%, payable semiannually on June

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On January 1,2021, Money Inc. issued ten-year bonds with a face value of $6,000,000 and a stated interest rate of 12%, payable semiannually on June 30 and December 31 . The bonds were sold to yield 10%. Table values are: What would be the interest expense for the Company for the Year ended December 31, 2021? a. 673,703 b. 1,343,484 c. 638,687 d. 720,000

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