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Texxon Corporation issued $500,000 of 8%, 10-year bonds. Interest is paid semiannually. Assume that the...

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Accounting

Texxon Corporation issued $500,000 of 8%, 10-year bonds. Interest is paid semiannually. Assume that the market rate for similar investments is 6 percent.

  1. How much bond interest expense should be recorded on the first semi-annual interest payment date?

a. $45,963.20

b. $17,236.20

c. $22,981.60

d. $34,472.40

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