Denver Company issued bonds with a face value of $56,000 and a stated interest rate of 8%. The bonds have a life of five years and were sold at 102.50. If Denver amortizes discounts and premiums using the straight-line method, the amount of interest expense each full year would be:

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The Answer of Denver Company issued bonds with a face value of $56,000 and a stated interest rate of 8%. The bonds have a life of five years and were sold at 102.50. If Denver amortizes discounts and premiums using the straight-line method, the amount of interest expense each full year would be:

Denver Company Issued Bonds with a Face Value of $56,000