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Exercise 14-7 (Part Level Submission) Blossom Company sells 10% bonds having a maturity value of $2,250,000 for $2,087,794. The bonds are dated January 1, 2017,

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Exercise 14-7 (Part Level Submission) Blossom Company sells 10% bonds having a maturity value of $2,250,000 for $2,087,794. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1 (a) Determine the effective-interest rate. (Round answer to 0 decimal places, e.g. 18%. ) The effective-interest rate LINK TO TEXT Attempts: 0 of 3 used

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