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A company issues $20,000,000, 7.8%, 20-year bonds to

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A company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2007. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. What is interest expense for 2008, using straight-line amortization?;A) $1,540,207;B) $1,560,000;C) $1,569,192;D) $1,579,793

 

Paper#27391 | Written in 18-Jul-2015

Price : $32
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