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Bond Problem Red Corp issues $1,000,000, 8% five year bonds with interest paid semiannually. The current market rate of interest is 10%. Required: -Compute the

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Bond Problem Red Corp issues $1,000,000, 8% five year bonds with interest paid semiannually. The current market rate of interest is 10%. Required: -Compute the price of the bond -Compute the discount/premium Record the issuance of the bonds Record the first interest payment including straight line amortization. After 2 years, the company redeems the bonds at $1,040,000. Record the transaction

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