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What is the interest expense

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Question - A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2010. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. What is the interest expense for 2011, using straight-line amortization?

Reference no: EM132454064

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