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1. Vacation Destination issues $40 million in bonds on January 1, 2018, that pay interest semiannually on June 30 and December 31. Portions of
1. Vacation Destination issues $40 million in bonds on January 1, 2018, that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: Date 1/1/2018 6/30/2018 12/31/2018 Cash Paid for Interest Expense Increase in Carrying Value Interest $1,491,277 1,494,928 $91,277 94,928 Carrying Value $37,281,935 37,373,212 a. b. c. d. e. f. Were the bonds issued at face amount, discount, or premium? What is the original issue price of the bonds? What is the face amount of the bonds? What is the stated annual interest rate? What is the market annual interest rate? What is the total cash paid for interest assuming the bonds mature in 10 years?
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