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ACCOUNTING 401 On January 1, a company issued 6%, 15-year bonds

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January 11th, 2018

On January 1, a company issued 6%, 15-year bonds with a face amount of $60 million for $49,624,854 to yield 8%. Interest is paid semiannually. What was the straight-line interest expense on the December 31 annual income statement?interest expense for the year?

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