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JKL Inc issues bonds with face value of $70,000 for $65,000. The life of the bonds is ten years and the annual rate of interest

JKL Inc issues bonds with face value of $70,000 for $65,000. The life of the bonds is ten years and the annual rate of interest is 5%. What is the total bond discount to be amortized over the life of the bonds? $500 $5,000 $3,500 $65,000

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