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Determine the interest expense

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Question - Baskin Corporation issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2018 Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,144. Using straight-line amortization, determine the interest expense for 2020?

Reference no: EM133091388

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