On January 1, 2018, Baltimore Company issued $150,000 face value,

At fiscal year end, December 31, 2018, Somerset Corporation had total
May 5, 2020
Allstar Company signed a $150,000 mortgage on July 1, 2018
May 5, 2020

On January 1, 2018, Baltimore Company issued $150,000 face value,

6%, 5-year bonds at 102. Interest is paid annually on January 1. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the interest expense for the 2018 fiscal year. Round your answer to the nearest whole dollar.

 
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