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On January 1, 2024, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition-date fair values, Jay concluded that the

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On January 1, 2024, Jay Company acquired all the outstanding ownership shares of Zee Company. In assessing Zee's acquisition-date fair values, Jay concluded that the carrying value of Zee's long-term debt (eight-year remaining life) was less than its fair value by $25,600. At December 31, 2024, Zee Company's accounts show interest expense of $14,190 and long-term debt of $430,000. What amounts of interest expense and long-term debt should appear on the December 31,2024, consolidated financial statements of Jay and its subsidiary Zee? Multiple Choice Option A Option D Option B Option C

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