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  3. ellis issues 8.0%, five-year bonds dated january 1

Ellis issues 8.0%, five-year bonds dated January 1, 2018, with a $530,000 par value. The...

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Accounting

Ellis issues 8.0%, five-year bonds dated January 1, 2018, with a $530,000 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $575,210. The annual market rate is 6% on the issue date.

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Required 1 Required 2 Required 3 Complete the below table to calculate the total bond interest expense over the bonds' life Total bond interest expense over life of bonds Amount repaid payments of Par value at maturity Total repaid Less amount borrowed Total bond interest expense Required 1 Required 2

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