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28) On January 1, 2019, Jet North Corp. issued $300,000 of 8%, 5-year bonds at 98, with semi-annual interest payments on June 30 and December

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28) On January 1, 2019, Jet North Corp. issued $300,000 of 8%, 5-year bonds at 98, with semi-annual interest payments on June 30 and December 31. The market interest rate on that day was 8.2% and Jet North uses the effective-interest method of amortization. (6) a. What is the semi-annual cash interest payment? b. How much cash was received by Jet North when the bonds were issued? c. How much cash is needed to pay off the bonds at maturity? d. What is the discount on bonds when they were issued? e. What is the bond discount amortization associated with the first interest payment? f. What is the value of the bond discount when the bonds mature? Use this space for your calculations. Enter the results on the answer sheet

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