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Kingbird Corporation issued $460,000, 8%, 20-year bonds onJanuary 1, 2022, for $418,008. This price resulted in an effective-interest rate of 9% on the bonds. Interest

Kingbird Corporation issued $460,000, 8%, 20-year bonds onJanuary 1, 2022, for $418,008. This price resulted in an effective-interest rate of 9% on the bonds. Interest is payable annually onJanuary 2 answers

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