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Neu Inc. issues $5 million face amount convertible bonds; the bonds issue at 101. Similar bonds issued without the conversion right would have been issued

Neu Inc. issues $5 million face amount convertible bonds; the bonds issue at 101. Similar bonds issued without the conversion right would have been issued at 99. Neu applies IFRS. At time of issuance, Neu should recognize a bond-related liability in the amount of:

Multiple Choice

$5 million.
$4.95 million.
$5.05 million.
$ 0.

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