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Required information [The following information applies to the questions displayed below.] Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2021, that pay interest

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Required information [The following information applies to the questions displayed below.] Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31 . They are issued at $292,181 when the market rate is 8%. 2. Determine the total bond interest expense to be recognized over the bonds' life

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