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On January 1, a company issued 6%, 15-year bonds with a face amount of $90...

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Accounting

On January 1, a company issued 6%, 15-year bonds with a face amount of $90 million for $74,437,281 to yield 8%. Interest is paid semiannually. What was the straight-line interest expense on the December 31 annual income statement? (Enter your answer in whole dollars. Round your intermediate calculations to the nearest dollar amount.)

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