What is the interest expense for the second year

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Reference no: EM131202536

On January 1 of the current year, Feller Corporation issued $5,000,000 of 10% debenture bonds on a basis to yield 9%, receiving $5,224,300. Interest is payable annually on December 31 and the bonds mature in 6 years. The effective-interest method is used. (a) What is the interest expense for the first year? (b) What is the interest expense for the second year?

Reference no: EM131202536

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What is the interest expense for the second year : On January 1 of the current year, Feller Corporation issued $5,000,000 of 10% debenture bonds on a basis to yield 9%, receiving $5,224,300. Interest is payable annually on December 31 and the bonds mature in 6 years. The effective-interest method is ..

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