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10. A company issued 7%, 5-year bonds with a par value of $500,000. The market...

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Accounting

10. A company issued 7%, 5-year bonds with a par value of $500,000. The market rate when the bonds were issued was 7.5%. The company received $497,947 cash for the bonds. What is the amount of interest expense for the first semiannual interest period?

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