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(Solved) : Please Show Work January 1 2020 Clare Corporation Issued 700 000 6 5 Year Bonds Bond Inter Q34209191

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Answer to (Please show work) On January​ 1, 2020​, Clare Corporation issued $700,000​, 6​%, 5​-year bonds. The bond inte…

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(Please show work)

On January​ 1, 2020​, Clare Corporation issued $700,000​, 6​%,5​-year bonds. The bond interest is payable on January 1 and July1. The bonds sold for $762,878. The market rate of interest whenthe bonds were issued was 4​%. Under the​effective-interest method, theinterest expense for the six months ending July​ 1, 2020​, would beclosest to?

           $15,258