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On January 1, 2019, Prescott Corporation issued $10 million of bonds at a price above their face value. They mature in 10 years and pay

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On January 1, 2019, Prescott Corporation issued $10 million of bonds at a price above their face value. They mature in 10 years and pay interest semiannually. Below is a partial amortization schedule for the bonds. Payment Cash Effective Decrease in Outstanding Interest Balance Balance 11,487,747 #1 400,000 344,632 55,368 11,432,379 #2 400,000 342,971 57,029 11,375,350 #3 400,000 341,261 58,739 11,316,611 #4 400,000 Required: *Calculate the stated annual rate and effective annual interest rate on the bonds. * Fill in the missing amounts related to payment #4. *How much is total interest expense recognized on the bonds over the entire 10 years

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