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What is reported interest expense for the second year

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Question - A bond has a par value of $2000000 and pays interest annually. The coupon rate is 8%, the time to maturity is 20 years, and the bond is issued at $2211880 to yield 7%. If the effective interest rate method is used, what is reported interest expense for the SECOND year of bond's life?

Reference no: EM132747266

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