Save 5 On January 1, Melrose Manufacturing issues a 5-year bond with a face value of $10,000 and a stated interest rate of 7%. The market interest rates The price of the bond was $10.986. Using the effective interest method of amortization, the interest expense for the first year ended December would be de Choice 50 150000 510000 From 2950 Next > MacBook Pro c G Search are $ 7 2 3 5 6 7 8 9 O W E R T Y U 1 o 1 A S D F G . J K L