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problem: A company issued five year, seven percent bonds with a par value of USD 100,000. The market rate when the bonds were issued at 6.5 percent. The company received USD 101,137 cash for the bonds. Apply the straight-line method, the amount of recorded interest expense for the first semiannual interest period is

[A]     3613.70

[B]    6633.70

[C]     7000.00

[D]     3386.30

[E]    3500.00

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