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Question
winrow company received proceeds of $377,000 on 10-year, 8% bonds issued on january 1, 2011. the bonds had a face value of $400,000, pay interest annually on december 31st, and have a call price of 101. winrow uses the straight-line method of amortization. what is the amount of interest expense winrow will show with relation to these bonds for the year ended december 31, 2012?
a.$32,000
b.$30,160
c.$34,300
d.$29,700
Answer
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