Question: Apple Inc. issued a 5-year bond with a face value of $1,000,000 and a stated interest rate of 6%. The market interest rate is 5%.

Apple Inc. issued a 5-year bond with a face value of $1,000,000 and a stated interest rate of 6%. The market interest rate is 5%. Create an amortization schedule for the first two years showing interest expense, amortization of bond discount, and carrying value of the bond.

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