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Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3 [The following information applies to the questions displayed below.] Legacy issues $325,000

Problem 14-5A Straight-Line: Amortization of bond premium and discount LO P1, P2, P3

[The following information applies to the questions displayed below.]

Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date.

Problem 14-5A Part 2

2.Determine the total bond interest expense to be recognized over the bonds' life.

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