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On January 1, Year 1. Weller Company issued bonds with a $425,000 face value, a...

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Accounting

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On January 1, Year 1. Weller Company issued bonds with a $425,000 face value, a stated rate of interest of 9%, and a 10-year term to maturity. Weller uses the effective Interest method to amortize bond discounts and premiums. The market rate of interest on the date of issuance was 7%. Interest is paid annually on December 31 Assuming Weller issued the bond for $448,940, what is the amount of interest expense that will be recognized during Year 3? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice 519,125 $46063 $30,437 $30,940

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