Use the data from the following financial statements in the popup window, the company paid interest expense of $ 18 comma 400 for 2017 and had an overall tax rate of 40 % for 2017. find the cash flow to creditors for 2017 by parts and total, with the parts being interest expense and increases or decreases in borrowing (long-term debt).

At the beginning of 2014, winston corporation issued 10% bonds with a face value of $2,000,000. these bonds mature in five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $1,852,800 to yield 12%. winston uses a calendar-year reporting period. using the effective-interest method of amortization, what amount of interest expense should be reported for 2014? (round your answer to the nearest dollar.)