Question: ABC issued $ 3 , 5 2 7 million face valu, 2 0 year, zero coupon bonds on July 1 , 2 0 1 7

ABC issued $3,527 million face valu, 20 year, zero coupon bonds on July 1,2017, that matured on June 30,2037, for a cash price of $2,619 million. The effective market interest rate at issuance was $1.5%. What amount of interest expense for the bond did ABC report on its calendar year income statement in 2019 for the bond?ABC issued $3,527 million face valu, 20 year, zero coupon bonds on July 1,2017, that matured on June 30,2037, for a cash price of $2,619 million. The effective market interest rate at issuance was $1.5%. What amount of interest expense for the bond did ABC report on its calendar year income statement in 2019 for the bond?

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