On january 1 2010 abc co. issued its 10 bonds in the face, Ask an Expert

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on january 1, 2010, ABC co. issued its 10% bonds in the face amount of $3,000,000, which mature on january 1, 2020. the bonds were issued for 3,405,000 to yield 8%. ABC uses the effective-interest method of amortization. what interest is payable annually ?

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