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problem: A company issued five year seven percent bonds with a par value of USD 100,000. The company received 97,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is;

[A]    $7,000.00

[B]     $7410.60

[C]     $3,294.70

[D]    $3,500

[E]     $3,705.30

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