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Marin Ltd. issued $698,600 of 15-year, 7.5% bonds on January 1, 2018, when the market interest rate was 6.5%. The cash received at the issuance
Marin Ltd. issued $698,600 of 15-year, 7.5% bonds on January 1, 2018, when the market interest rate was 6.5%. The cash received at the issuance of the bond was $764,903.84. Interest is payable semi-annually on July 1 and January 1. Marin has a December 31 year end.
Prepare bond amortization schedule for the first four interest periods, using the effective-interest method. (Round answers to 2 decimal places, e.g. 15.75.)
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