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How much interest expense should white report

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Reference no: EM132798334

Problem - To purchase a "manufacturing facility", Walter White, Inc. issued $100,000 of 5-year bonds with a stated interest rate of 4%. Interest is paid semi-annually. Because the market rate was 6%, White received only $91,469.80 upon issuance. How much interest expense should White report for the second year of the bonds?

Reference no: EM132798334

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