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On July 1, 2020, Center Company issued for $598,964, 10%, 20-year bonds with a face value of $500,000. Interest is paid semiannually on December 31 and June 30. The bonds were issued to yield 8%. Center uses the effective interest method to amortize any bond discount or premium. What is the amount of interest expense that Center will report for the year ended December 31, 2021?Select one:a. $47,917b. $47,875c. $59,896d. $47,79
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