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How much interest expense will whitmore corp recognize

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On January 1, 2019, Whitmore Corp Issues $600,000 of 9% 15 year bonds that pay interest annually on December 31st each year. Bonds of similar risk and maturity are paying 7%

Problem 1: How much interest expense will Whitmore Corp recognize on December 31, 2019 when they make the first interest payment?

Group of answer choices

Option 1: $49,651

Option 2: $54,000

Option 3: $63,837

Option 4: $45,294

Reference no: EM132704019

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