Seaview Industries received authorization on December 31, year 1, to issue $7,000,000 face value of 6%, 10-year bonds. The interest payment dates are June 30 and December 31. All the bonds were issued at par, plus accrued interest, April 1, Year 2. The bonds are callable by Seaview Industries at any time at 102.
What is the amount of bond interest expense that appears in Seaview’s Year 2 income statement relating to these bonds?
$_______________________
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