Question
On January 2, 2016, garage master construction, Inc. issued $500,000, 10-year bonds for $574.540. The bonds pay interest on June 30 and December 31. The
On January 2, 2016, garage master construction, Inc. issued $500,000, 10-year bonds for $574.540. The bonds pay interest on June 30 and December 31. The face rate is 8% and the market rate is 6%. The interest expense on the on the bonds at June 30, 2016, is
a. $2,764
b. $17,236
c. $20,000
d. $22,764
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
