A $900,000, ten-year, 4% bond issue was sold to yield 5% interest payable annually. Actuarial information for
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A $900,000, ten-year, 4% bond issue was sold to yield 5% interest payable annually. Actuarial information for 10 periods is as follows:
|
| 4% | 5% |
| Present value of 1 | 0.67556 | 0.61391 |
| Present value of an annuity of 1 | 8.11090 | 7.72174 |
Refer to Exhibit 14-4. The discount or premium at the date of bond issuance would be
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
Posted Date:
