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Knollwood Corporation issued $300,000 of 30-year, 8 percent bonds at 106 on one of its semiannual interest dates. The straight-line method of...

Knollwood Corporation issued $300,000 of 30-year, 8 percent bonds at 106 on one of its semiannual interest dates. The straight-line method of amortization is to be used. What is the total interest cost of the bonds?

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