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On January 1, 2016, Salazar Inc. issued $4,000,000, 11% bonds for $4,260,000. The market rate of interest for the bonds is 10%. Interest is payable

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On January 1, 2016, Salazar Inc. issued $4,000,000, 11% bonds for $4,260,000. The market rate of interest for the bonds is 10%. Interest is payable annually on December 31, Salazar uses the effective interest method of amortizing bond premium. What unamortized bond premium should Salazar report at the end of 2016? $236,000 $246,000 $246,600 $226,100

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