Question: On January 1 , 2 0 2 4 , Instaform, Incorporated, issued 1 0 % bonds with a face amount of $ 5 3 million,

On January 1,2024, Instaform, Incorporated, issued 10% bonds with a face amount of $53 million, dated January 1.
The bonds mature in 2043(20 years).
The market yield for bonds of similar risk and maturity is 12%.
Interest is paid semiannually.

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