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  3. sally smith works for peterson press, a fairly lar

Sally Smith works for Peterson Press, a fairly large book publishing firm. Her best friend...

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Accounting

Sally Smith works for Peterson Press, a fairly large book publishing firm. Her best friend and rival, Molly Murray, works for Lifeline Books, a smaller publisher. Both companies issued $100,000 in bonds on July 1. Peterson's bonds were issued at a discount, while Lifeline's were issued at a premium. Molly sent Sally an email the next day. She told Sally that it was obvious who the better publisher wasthe market had shown its preference! She reminded Sally again of her recent increase in salary as further proof of the superiority of Lifeline Books.

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