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A company issues 5000000 78 20-year bonds to yield 8 on

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A company issues $5,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2010. Interest is paid on June 30 and Dec 31. The proceeds from the bonds are $4,901,036. Using effective-interest amortization, how much interest expense will be recognized in 2010?

Reference no: EM13597380

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