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Item 4 Part 2 of 4 1.66 points Item Skipped
[The following information applies to the questions displayed below.]
Legacy issues $570,000 of 8.5%, four-year bonds dated January 1, 2019, that pay interest semiannually on June 30 and December 31. They are issued at $508,050 when the market rate is 12%.
2. Determine the total bond interest expense to be recognized over the bonds' life.