Question: whole dollar) Multiple Choice $200. $100. $47. $51 On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were

On January 1, Year 1 Residence Company issued bonds with a $50,000

whole dollar) Multiple Choice $200. $100. $47. $51

On January 1, Year 1 Residence Company issued bonds with a $50,000 face value. The bonds were issued at 104 resulting in a 4% premium. They had a 20 year term, a stated rate of interest of 7%, and an effective rate of interest of Assuming Residence uses the effective interest rate method, the amount of bond premium amortization recognized on December 31, Year 1 is (round any necessary computations to the nearest whole dollar) Multiple Choice O O O O $200. $100. $47. SSI_

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