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Under the effective-interest method of amortization for bond premiums and discounts, the interest expense is calculated by multiplying the: a. carrying value of the bonds

Under the effective-interest method of amortization for bond premiums and discounts, the interest expense is calculated by multiplying the:

a. carrying value of the bonds times the stated interest rate
b. carrying value of the bonds times the market interest rate
c. face value of the bonds times the market interest rate
d. face value of the bonds times the stated interest rate

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