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Compute dollar value of interest expense for fiscal year

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Reference no: EM132627118

Question 1: On January 1, 2018, Baltimore Company issued $200,000 face value, 5%, 5-year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar.

Reference no: EM132627118

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