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On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $4,800,000 of 10-year, 8% bonds at a market (effective) interest rate of 10%,

On July 1, 20Y1, Livingston Corporation, a wholesaler of manufacturing equipment, issued $4,800,000 of 10-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $4,201,816. Int...

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