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Orange Tech issued a 10-year, 10% bond payable that amounts to $1,000,000 on January 1, 2019 in which the market interest rate is 12%. The

Orange Tech issued a 10-year, 10% bond payable that amounts to $1,000,000 on January 1, 2019 in which the market interest rate is 12%. The interest is paid annually every December 31. With the effective interest method, How much is the bond interest expense in 2020?

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