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3. The Cinci Company issues $100,000,10% bonds at 96 on May 1,2022 . The bonds are dated January 1, 2022 and mature seven years from

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3. The Cinci Company issues $100,000,10% bonds at 96 on May 1,2022 . The bonds are dated January 1, 2022 and mature seven years from that date. Straight-line amortization is used. Interest is paid annually each December 31 . Compute the bond carrying value as of December 31, 2027

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