The carrying value of 8% bonds with face value of $7,000,000 is $6,474,700. The bonds...
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Accounting
The carrying value of 8% bonds with face value of $7,000,000 is $6,474,700. The bonds have 5 years to maturity. Interest is payable semiannually. Assuming that the next coupon payment is after 6 months, how much is the total interest expense until maturity?
Multiple Choice
$3,325,300
$2,968,400
$2,800,000
$2,274,700
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