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On January 1, 2021, Concord Corporation issued its 10% bonds in the face amount of $8070000, which mature on January 1,2031 . The bonds were
On January 1, 2021, Concord Corporation issued its 10% bonds in the face amount of $8070000, which mature on January 1,2031 . The bonds were issued for $9152978 to yield 8%, resulting in bond premium of $1082978. Concord uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2021, Concord's adjusted unamortized bond premium should be (Round intermediate calculations to 0 decimal places, e.g. 9,020,890.) $1082978.$974680.$1008216$813816
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