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What interest expense on the year income statement

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Question 1: On January 1, X Co. issued 5-year, 9% bonds with a face value of $500,000 for $481,046 to provide a 10% yield. Interest is paid annually on January 1. Interest expense on the year 1 income statement would be:

Option a. $45,000

Option b. $50,000

Option c. $48,105

Option d. $43,294

Option e. Not enough information to determine the answer

Reference no: EM132569996

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