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On June 30 2007 semi annual secured bonds having a face value

On June 30, 2007, semi annual secured bonds having a face value of $200,000, a life of 10 years and a coupon rate of 7% were purchased to yield 6%. Assume that $214,878.28 was paid for the bonds.

a.

What amount of interest revenue should be recorded at the first interest receipt date?

b.

What amount of premium (or discount) will be amortized at thefirst interest receipt date?

c.

What is the amount of cash flow at the first interest receipt date?

May 02 2018 Read more Less More

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