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Moore Company issued $100,000 bonds. The stated rate of interest was 6% and the market rate 7%. Which of the following statements is true? The

Moore Company issued $100,000 bonds. The stated rate of interest was 6% and the market rate 7%. Which of the following statements is true?

The bonds were issued at a premium.

The bonds were issued at a discount.

Annual interest expense will be $7,000.

Moore Company cannot issue bonds if the market rate is higher than the stated rate.

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