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On November 1,2023, Ohio Co. issued 12,000,$1,000 par value, 6% convertible bonds. Each bo is convertible into 15 common shares. Ohio's tax rate is 30%.

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On November 1,2023, Ohio Co. issued 12,000,$1,000 par value, 6% convertible bonds. Each bo is convertible into 15 common shares. Ohio's tax rate is 30%. No bonds were converted in 2023 What is the interest expense avoidable, net of tax for Ohio's year ending DECEMBER 31, 2023? a. $504,000 b. $84,000 c. $720,000 d. $120,000

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