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Exercise 14-11 Your answer is partially correct. Try again. Skysong Inc. has issued three types of debt on January 1, 2020, the start of the

Exercise 14-11

Your answer is partially correct. Try again.

Skysong Inc. has issued three types of debt on January 1, 2020, the start of the companys fiscal year.

(a) $10 million, 11-year, 14% unsecured bonds, interest payable quarterly. Bonds were priced to yield 12%.
(b) $28 million par of 11-year, zero-coupon bonds at a price to yield 12% per year.
(c) $17 million, 11-year, 10% mortgage bonds, interest payable annually to yield 12%.

Prepare a schedule that identifies the following items for each bond: (1) maturity value, (2) number of interest periods over life of bond, (3) stated rate per each interest period, (4) effective-interest rate per each interest period, (5) payment amount per period, and (6) present value of bonds at date of issue.

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