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What is the interest expense

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Question - On January 1, 2021, a firm issues bonds with a face amount of $1,500,000. The stated rate is 10%, the market rate is 12%, the term is three years and payments are made twice a year, on June 30 and Dec. 31. What is the interest expense that the firm records on its books when making the first cash payment to investors on June 30, 2021?

Reference no: EM132873725

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