Franzia Company issues €10,000,000, 7.8%, 20-year bonds to yield 8% on July 1, 2011.Interest is paid on July 1 and January 1.The proceeds from the bonds are €9,802,073.What amount of interest expense will be reported on the 2012 income statement?
A) €392,083
B) €780,000
C) €784,249
D) €784,419
Correct Answer:
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