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Compute what is the interest expense amount

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Problem 1: In the Fox Co. entry to accrue semi-annual intereststraight-line amortization on $400,000, 10%, 6-year bonds issued at 106 when market rate was 8%, what is the interest expense amount?

Group of answer choices

Option 1: $16,960

Option 2: $16,000

Option 3: $22,000

Option 4: $18,000

Reference no: EM132670226

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