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Evaluate the dollar value of the interest expense

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Question 1: On January 1, 2018, Baltimore Company issued $100,000 face value, 5%, 5-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 2018 fiscal year. Round to the nearest whole dollar.

Reference no: EM132517101

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