A company purchased $60,000 of 5% bonds on May 1 at par value. The bonds pay interest on March 1 and September 1. The amount of interest accrued on December 31 (the company's year-end) would be:
A. $1,250.
B. $2,500.
C. $500.
D. $1,500.
E. $1,000.
Answer: E
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