On January 1, 2019, Amin, Inc. issued $1,200,000, 10-year, 8% bonds for $1,050,450. The bonds pay interest on June 30 and December 31. The market rate is 10%.
How much is the interest expense on the bonds for the first interest payment on June 30, 2019?
A) $ 52,523
B) $105,045
C) $ 96,000
D) $ 48,000
Correct Answer:
Verified
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