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Posted on Jun 28, 2024

Bouvier Inc. sells $5,000,000 of five-year, 10% bonds at the start of the year.The bonds pay interest yearly and have an effective yield of 9%.

1) At what amount would the bonds sell for?

2) What would be the bond carrying value at the end of Year 1?

3) What amount of bond premium would be amortized for Year 2?

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