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What is the interest expense for the first period of bond

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Reference no: EM132971282

Problem 1: Wind Breath air conditioning company issues a five-year 9% bond with a total face amount of $5,000,000 to fund a project on January 1, 2021. Interest is paid semi-annually, and the market rate of interest is 10%. What is the interest expense for the first period of this bond?

Reference no: EM132971282

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