Question: Question 8 Questions 8 & 9 are connected $1,000,000 5-year bonds with a stated rate of 7% are sold at 102 (The market rate is

Question 8 Questions 8 & 9 are connected $1,000,000 5-year bonds with a stated rate of 7% are sold at 102 (The market rate is 5%) Assume straight-line amortization. What is Interest Expense at end-of-year 1? O $66,000 $70,000 $50,000 O $74,000

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