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A corporation issues $26,000,000 of 9% bonds to yield interest at the rate of 7%...

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Question

Accounting

A corporation issues $26,000,000 of 9% bonds to yield interest at the rate of 7% on January 1, 2020. Select one question below and identify or calculate the amount.

1. Principal Amount

2. Nominal Rate

3. Stated Rate

4. Market rate

5. Effective rate

6. Maturity Value

7. Face value

8. Carrying Value

9. Par Value

10. Annual 2020 Cash Interest to be paid

11. Annual 2020 Interest Expense

12. Was the Bonds issued at discount or premium and why


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