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On January 1, 2009 Kiner Co. issued five-year bonds with a face value of $300,000...

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Accounting

On January 1, 2009 Kiner Co. issued five-year bonds with a face value of $300,000 and a stated interest rate (coupon rate) of 12% payable semiannually on July 1 and Jan. 1. The bonds were sold to yield (market rate) 10%. (note: ordinary annuity). What is the price of the bond? Was it sold at a discount or a premium

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