Smith amp sons inc sold 100000 face value six percent, Financial Management

Smith amp sons inc sold 100000 face value six percent

Bond Interest Expense

Smith & Sons, Inc., sold $100,000 face value, six percent coupon rate, four-year bonds, for an aggregate issue price of $96,000.

Calculate the total interest expense to be recorded by the company over the four-year life of the bonds.

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Financial Management: Smith amp sons inc sold 100000 face value six percent

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