Question: NoleCo issues bonds on January 1 , 2 0 2 3 . These bonds pay interest semi - annually on June 3 0 and December

 NoleCo issues bonds on January 1,2023. These bonds pay interest semi-annually on June 30 and December 31 each year. The face value of the bonds is $1,000,000 and the coupon/stated rate is 8%. The market rate on the issue date is 10%. The bonds were issued for $850,000. What's the interest expense that NoleCo should recognize on June 30,2023?  

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