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Determine what is the amount of interest expense

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Reference no: EM132611052

McMaster Corporation issued $300,000 of 6.5?% 10?-year bonds. The bonds are dated and sold on January? 1, 2015.

Interest payment dates are January 1 and July 1. The bonds are issued for $289,341 to yield the market interest rate of 7?%.

McMaster Corporation uses the? effective-interest method.

Question 1: What is the amount of interest expense that McMaster Corporation will record on July? 1, 2015?, the first semiannual interest payment? date?

(All amounts rounded to the nearest? dollar.)

A. $11,430

B. $377

C. $9,750

D. $10,127

Reference no: EM132611052

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