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Determine the dollar value of the interest expense

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Problem 1: On January 1, 2020, Baltimore Company issued $200,000 face value, 4%, 10-year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the interest expense for the 2020 calendar year.

Reference no: EM132906569

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