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Multiple Choice Question 137 Sunland Company issued $610000 of 7%, 10-year bonds on one of its interest dates for $526857 to yield an effective annual

Multiple Choice Question 137

Sunland Company issued $610000 of 7%, 10-year bonds on one of its interest dates for $526857 to yield an effective annual rate of 9%. The effective-interest method of amortization is to be used. Interest is paid annually. What amount of discount (to the nearest dollar) should be amortized for the first interest period?

a. 5820

b. 4717

c. 9424

d. 7483

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