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Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,000,000, 7%, five-year bond that pays semiannual interest

Issuing Bonds at a Premium On the first day of the fiscal year, a company issues a $5,000,000, 7%, five-year bond that pays semiannual interest of $175,000 ($5,000,000 x 7%

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