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What is the interest income for the year

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Question - On Jan. 1, 2021, ABC acquired a 10%, $5,000,000, bonds that matures on Jan. 1, 2025. The interest is collectible every July 1 and Jan 1. It paid $4,689,510 for the acquisition resulting to an effective interest rate of 12%. What is the interest income for the year 2021?

Reference no: EM132875898

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