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What is the interest expense on these bonds

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Problem

On January 1, 2016, the Lourdes Corporation issued 6%, 10-year bond with a face amount of $10 million for $93,300,00 to yield 8%. interest is p[aid semiannually. Using the effective interest method, what is the interest expense on these bonds for the half of 2016?

Reference no: EM131790406

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