Auerbach inc. issued 4% bonds on october 1, 2018. the bonds have a maturity date of september 30, 2028 and a face value of $325 million. the bonds pay interest each march 31 and september 30, beginning march 31, 2019. the effective interest rate established by the market was 6%. assuming that auerbach issued the bonds for $276,649,555, what interest expense would it recognize in its 2018 income statement? (do not round intermediate calculations and round final answer to nearest whole dollar.)

At the end of the week, carla receives her paycheck and goes directly to the bank after work to make a deposit into her savings account. the bank keeps the required reserve and then loans out the remaining balance to a qualified borrower named malik as a portion of his small business loan. malik uses the loan to buy a tractor for his construction business and makes small monthly payments to the bank to payback the principal balance plus interest on the loan. the bank profits from a portion of the interest payment received and also passes some of the interest back to carla in the form of an interest payment to her savings account. in this example, the bank is acting