Question: On January 1 , 2 0 2 4 , Solo Incorporated issued 1 , 6 0 0 of 7 % , $ 1 , 0

On January 1,2024, Solo Incorporated issued 1,600 of 7%, $1,000 bonds at 97. Interest is payable semiannually on January 1 and July 1 The bonds mature on January 1,2034. Solo paid $50,000 in bond issue costsSolo uses straight-line amortization The amount of interest expense for 2024 :

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