On January 1, Year 1, Mainland, Inc., issued five year, 9% bonds with a face value of $500,000 for cash of $520,275. The bonds mature in five years and interest is payable annually on December 31. The market rate was 8% on the date the bonds were issued. The market rate rose to 11% on December 31, Year 1. Mainland uses the effective-interest amortization method. What amount of interest expense will be recognized on December 31, Year 1?

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions