The amount of interest expense for each year

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Reference no: EM131295480

Day Company sells $400,000 of 55?%, 10?-year bonds for $388,000 on April? 1, 20142014. The market rate of interest on that day is 5.5%. Interest is paid each year on April 1. Day Company uses the? straight-line amortization method. The amount of interest expense for each year will be

A. $10,600.

B. $20,000.

C. $21,200.

D. $23,200.

E. none of these.

Reference no: EM131295480

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