Are these bonds issued at a discount or a premium? Explain your answer. On December 31, 2007,

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Are these bonds issued at a discount or a premium? Explain your answer.

On December 31, 2007, a company issues 16%, 10-year bonds with a par value of $100,000. Interest is paid on June 30 and December 31. The bonds are sold to yield a 14% annual market rate at an issue price of $110,592. Use this information to answer question AppendixLO1

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