Question: Kimble Electronics issued its 6%, 20-year bonds payable at a price of $855,000 (face value is $900,000). The company uses the straight-line amortization method for

Kimble Electronics issued its 6%, 20-year bonds payable at a price of $855,000 (face value is $900,000). The company uses the straight-line amortization method for the bond discount or premium.

Interest expense for the first year is:

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