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Rupert Corporation issued $100,000 of 20 year, 6% bonds at 98 on one of its semi-annual interest dates. Straight line method of amortization is to

Rupert Corporation issued $100,000 of 20 year, 6% bonds at 98 on one of its semi-annual interest dates. Straight line method of amortization is to be used. 1. How much interest expense is recorded on the next interest date? After seven years, what is the carrying value of the bonds? What is the total interest cost (expense) of the bonds?

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