(Answered) Question - legacy issues 325000 of 5 four-year bonds dated

Accounting

Question - Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date.

Determine the total bond interest expense to be recognized over the bonds' life.

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