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Bramble Corporation issued $320,000, 7%, 20 year bonds on January 1, 2022, for $288,583. This price resulted in an effective interest rate of 8% on

Bramble Corporation issued $320,000, 7%, 20 year bonds on January 1, 2022, for $288,583. This price resulted in an effective interest rate of 8% on the bonds. Interest is payable annually on January 1. Bramble uses the effective interest method to amortize bond premium or discount

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