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Determine the interest expense

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Question - On January 1, 2020, Vaughn Manufacturing sold 11% bonds with a face value of $2350000. The bonds mature in five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $2536000 to yield 9%. Using the effective-interest method of amortization, determine the interest expense for 2020?

a. $227559.

b. $258500.

c. $211500.

d. $228190.

Reference no: EM132858824

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