Question: For problems #16 - 17, use the following information: A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is

For problems #16 - 17, use the following information: A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,703, 108. 16. 17. Using effective interest amortization, how much interest expense will be recognized in 2017? Using effective interest amortization, what will the carrying value of the bonds be on the December 31, 2017 balance Sheet

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