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On July 1, year 1, Knight Co. received $103,288 for $100,000 face amount, 12% bonds, a price that yields 10%. Assuming management does not elect
- On July 1, year 1, Knight Co. received $103,288 for $100,000 face amount, 12% bonds, a price that yields 10%. Assuming management does not elect the fair value option, interest expense for the six months ended December 31, year 1, should be:
- $6,197
- $6,000
- $5,164
- $5,000
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