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Determining total amount of bond interest-kent company

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Problem: On Jan 1, 2015 Kent Company issue 7%, 15-year bonds with a face amount of $200,000 and pay interest on June 30 and Dec 31. On the issue date, the annual market rate for these bonds is 8%, which implies a selling price of 94. The straight-line method is used to amortized any discount or premium.

Required:

Question: What total amount of bond interest expense will be recognized over the life these bonds? Can you deliver the detailed solution of this problem.

Reference no: EM132419208

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