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On January 1,2024 , Entity D issued $1,000,000 of 6%,5-year bonds at 104 . The bonds pay interest annually on December 31 and Entity D

On January 1,2024 , Entity D issued $1,000,000 of 6%,5-year bonds at 104 . The bonds pay interest annually on December 31 and Entity D amortizes any premium or discount using the straight-line method. What is the annual interest expense on the bonds? $52,000.$60,000$8,000.$67,000

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