Solved: What was the interest expense at effective interest rate, Financial Accounting

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What was the interest expense at effective interest rate

Effective interest on bonds

Response to the following problem:

On January 1, a company issued 3%, 20-year bonds with a face amount of $80 million for $69,033,776 to yield 4%. Interest is paid semiannually. What was the interest expense at the effective interest rate on the December 31 annual income statement?

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Financial Accounting: What was the interest expense at effective interest rate

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Financial Accounting: What was the interest expense at effective interest rate

Reference No:- TGS02094284

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