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Compute the interest expense in the year

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Question - Pearson Co issue its $137,700 at a price of 96, the stated rate is 6%, the bond term is 4 years, and the market rate is 8%. Assume the term of the bonds is 4 years. Using the straight line method of amortization, compute the interest expense in the 1st year?

Reference no: EM132569363

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