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Pearson Co issue its $137,700 at a price of 96, the stated rate is 6%, the bond term is 4 years, and the market rate

Pearson Co issue its $137,700 at a price of 96, the stated rate is 6%, the bond term is 4 years, and the market rate is 8%.Assume the term of the bonds is 4 years.

Using the straight line method of amortization, the interest expense in the 1^styear will be $_____

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