Question: On January 1, 2016, Sinclair Corp. bought equipment using a $10,000,000 zero-interest-bearing bond due on January 1, 2021. The prevailing rate of interest for a

On January 1, 2016, Sinclair Corp. bought equipment using a $10,000,000 zero-interest-bearing bond due on January 1, 2021. The prevailing rate of interest for a note of this type at January 1, 2016 was 7%. What amount of interest expense should be included in Sinclairs 2017 income statement? Please Please show your steps

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