interest expense using straight-line amortization
A company issues 20,000,000, 7.8%, 20 year bonds to yield 8% on January 1, 2010. Interest is paid on June 30 and December 31. The proceeds from the bonds are 19,604,145. What is the interest expense using straight-line amortization? a) 1,540, 207 b) 1, 560,000 c) 1, 569, 192 d) 1, 579, 793