Amount of the semi-annual interest expense

Reference no: EM13130806

On January 1, a company issued 10%, 10 year bonds payable with a par value of $720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. What is the amount of the semi-annual interest expense?

Reference no: EM13130806

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