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How much interest revenue will kelemen record

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Question - Kelemen Asset Management invested in the bonds of DEF Co. on 1/1/16. Kelemen intends to hold the bonds until maturity. These 5-year bonds had a face value of $300,000, pay 5% interest on 6/30 and 12/31 of each year, and were issued when the market rate of interest was 6%, resulting in a cost of $287,205. How much interest revenue will Kelemen record on 6/30/16?

Reference no: EM131719982

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