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A company issues 5% semiannual coupon, 3-year, $1,000 par value bonds on January 1,20X0, when...

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Accounting

A company issues 5% semiannual coupon, 3-year, $1,000 par value bonds on January 1,20X0, when the market interest rate is 13.3%. The sale proceeds are $800. Under the effective interest rate method, what amount of interest expense per $1,000 par value will the company record for the year ending December 31,20X1?

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