NBC Corporation issued $610,000,9%,5-year bonds on January 1,2019 for $660,731 when the market interest rate was 7%.Interest is paid semiannually on January 1 and July 1.The corporation uses the effective-interest method to amortize bond premium.The total amount of bond interest expense recognized on July 1,2019 is:
A) $21,350.
B) $23,126.
C) $29,733.
D) $27,450.
Correct Answer:
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