Question: The carrying value of a $500,000, 4 year note with an 8 percent face rate (paid semiannually) that was issued to yield a 7 percent

The carrying value of a $500,000, 4 year note with an 8 percent face rate (paid semiannually) that was issued to yield a 7 percent market rate is $515,286.36. What is the interest expense for the next interest period? (The answer is suppose to be $18,035.02

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