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A company issues 5000000 7820-year bonds to yield 8 on

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A company issues $5,000,000, 7.8%,20-year bonds to yield 8% on January 1, 2007. Interest ispaid on June 30 and December 31. The proceeds from the bonds are$4,901,036. Using effective-interest amortization, how much interest expense will be recognized in 2007?

Reference no: EM13614466

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