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Perth Ltd issued $1million in five-year bonds on 1...

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Accounting

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Perth Ltd issued $1million in five-year bonds on 1 July 2021 (in a private placement). The bonds pay interest every six months at a rate of 6 percent per annum (3 percent every six months). At the time of issue, the market required a rate of return of 4 percent per annum. The untod for using the effective interest method

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