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What is Ellucians net interest revenue

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Question - On April 1, 2018, Ellucian Corporation invested in the bonds issued by the City of Westminster on January 1, 2018. These 10-year, $600,000 bonds pay interest of 2% with semiannual payments every June 30 and December 31. Ellucian paid par value plus accrued interest. Ellucian's fiscal year ends on December 31. What is Ellucian's net interest revenue for 2018?

A) $9,000

B) $12,000

C) $3,000

D) $6,000

Reference no: EM132509945

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