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A company issued 7 4-year bonds with a par value of 200000

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A company issued 7%, 4-year bonds with a par value of $200,000. The market rate when the bonds were issued was 7.5%. The company received $190,200 cash for the bonds. Using the effective interest method, the amount of interest expense for the first semiannual interest period is(rounded):

Reference no: EM13609249

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