Question: b . Paul White Inc . issued $ 5 8 0 , 0 0 0 of 9 % , 1 0 - year bonds on

b.PaulWhiteInc. issued $580,000of9%,10-year bonds on June 30,2025, for $480,209. This price provided a yield of12% on the bonds. Interest is payable semiannually on December 31 and June 30. IfWhiteuses the effective-interest method, determine the amount of interest expense to record if financial statements are issued on October 31,2025.

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