What Is the Interest Expense on the Bonds in 2010

question 111

Multiple Choice

What is the interest expense on the bonds in 2010?

• A)$700,700.
• B)$600,000.
• C)$351,337.
• D)$100,700.Semiannual effective rate = $345,639 / $8,640,967 = 4% Interest expense = $349,363 + ($8,783,433 4%) = $700,700

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