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  3. katie paid $9500 for a ginnie mae bond with a par

Katie paid $9500 for a Ginnie Mae bond with a par value of $10000 and...

60.1K

Verified Solution

Question

Accounting

Katie paid

$9500

for a Ginnie Mae bond with a par value of

$10000

and a coupon rate of

7.5

%.

Two years later, after having received the annual interest payments on the bond, Katie sold the bond for

$10 006

.

What are her total tax consequences if she is in a

35

%

marginal tax bracket?

Answer & Explanation Solved by verified expert
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