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On January 2, 2020, Meintosh Ltd. sold five year. 4% bands with a face value of $ 500,000 interest will be paid semi-annually on June

On January 2, 2020, Meintosh Ltd. sold five year. 4% bands with a face value of $ 500,000 interest will be paid semi-annually on June 30 and December 31. The pond were sold for $ 478,121 to yield 5%. Using the effective interest method of amortization of bond discount or premium, What is the interest expense for 2020?

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