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On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $210,000, 9 percent bond issue for $197,088. The bonds pay

On January 1, when the market interest rate was 10 percent, Seton Corporation completed a $210,000, 9 percent bond issue for $197,088. The bonds pay interest each December 31 and mature in 10 years. Seton amortizes the bond discount using the straight-line method.image text in transcribed

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