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Question - On January 1, 2018, Harrison Company purchased an equipment by signing a six year installment note, requiring annual payments of $15,000 to be made at year-end, and the first payment will be made at December 31, 2018. The implicit interest rate is 12%. What is the correct interest expense for the year ending December 31, 2009?
a. $6,829
b. $5,467
c. $6,010
d. $7,401
a corporation issues fro cash 1000000 of 10 20-year bonds interest payable annually at a time whenthe market rate of
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