Uses straight-line amortization

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On January 1, 2016, Solo Inc. issued 1,400 of its 10%, $1,000 bonds at 99. Interest is payable semiannually on January 1 and July 1. The bonds mature on January 1, 2026. Solo paid $65,000 in bond issue costs. Solo uses straight-line amortization. The amount of interest expense for the year is $140,000 $141,400 $149,300 $147,900

Reference no: EM131211313

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