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Pearson Co issue its $161300 at a price of 97 , the stated rate is 5%, the bond term is 4 years, and the market

Pearson Co issue its $161300 at a price of 97 , the stated rate is 5%, the bond term is 4 years, and the market rate is 9%. Assume the term of the bonds is 4 years. Using the effective interest method, the interest expense in the 1st year will be $

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