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Use the effective-interest method of amortization

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On January 1, 2012, Huber Co. sold 12% bonds with a face value of $800,000.

The bonds mature in five years, and interest is paid semiannually on June 30 and December 31.

The bonds were sold for $861,600 to yield 10%. Using the effective-interest method of amortization, interest expense for 2012 is ?

Reference no: EM131796917

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