Question
Catalina Corporation issued $1,000,000 of 8% bonds on January 1, 2020, due on January 1, 2022. The interest is to be paid annually on December
Catalina Corporation issued $1,000,000 of 8% bonds on January 1, 2020, due on January 1, 2022. The interest is to be paid annually on December 31. The bonds were sold to yield 5% effective annual interest. The Corporation closes its books annually on December 31.
What is the coupon rate?
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
