Question: Ivanhoe Industries, Inc. issued ( $ 1 2 , 9 0 0 , 0 0 0 ) of ( 8

Ivanhoe Industries, Inc. issued \(\$ 12,900,000\) of \(8\%\) debentures on May 1,2024 and received cash totaling \(\$ 11,445,690\). The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1,2028. The firm uses the effectiveinterest method of amortizing discounts and premiums. The bonds were sold to yield an effective rate of \(10\%\). Calculate the total dollar amount of discount or premium amortization during the first year (5/1/24 through 4/30/25) these bonds were outstanding. (Round answers to 0 decimal places, e.g.5,275.)Cash InterestInterest ExpenseDiscount AmortizedCarrying Value of Bonds
Ivanhoe Industries, Inc. issued \ ( \ $ 1 2 , 9 0

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