Interest expense for the first semi-annual interest period

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Reference no: EM13977094

A company issued 10 year, 7% bonds with a par value of $100,000. The company received $96,526 for the bonds. Using the straight line method, the amount of interest expense for the first semi-annual interest period is:

$3,326.

$3,500.00.

$3,673.70.

$7,000.00.

$7,347.40.

Reference no: EM13977094

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