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Question 4 (2 points) A company issues $1,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30

Question 4 (2 points) A company issues $1,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $980,208. What is interest expense for 2021, using straight-line amortization?

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