Multiple Choice
A company issues $10,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2014. Interest is paid on June 30 and December 31. The proceeds from the bonds are $9,802,072. What is interest expense for 2015, using straight-line amortization?
A) $1,026,805
B) $780,000
C) $784,596
D) $789,896
Correct Answer:
Verified
Correct Answer:
Verified
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