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Exercise 10-22 Grouper Corp. issued $380,000, 896, 25-year bonds on January 1, 2017, for $311,015. This price resulted in an effective-interest rate of 10% on

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Exercise 10-22 Grouper Corp. issued $380,000, 896, 25-year bonds on January 1, 2017, for $311,015. This price resulted in an effective-interest rate of 10% on the bonds. Interest is payable annually on January 1. Grouper uses the effective-interest method to amortize bond premium or discount

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