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(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Item Case 1 Case 2 Case 3 Notes receivable, face value $ 900,000 $ 1,000,000 $ 2,000,000 Initial carrying value $ 901,819 Market rate 8% Stated rate 8% 7% 10% Term of bonds (in years) 20 5 Note receivable discount (153,244) Interest income over the note's term 1,200,000 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Item Case 1 Case 2 Case 3 Notes receivable, face value $ 900,000 $ 1,000,000 $ 2,000,000 Initial carrying value $ 901,819 Market rate 8% Stated rate 8% 7% 10% Term of bonds (in years) 20 5 Note receivable discount (153,244) Interest income over the note's term 1,200,000
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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