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Shamrock Company issued $ 636,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1 and January 1.

Shamrock Company issued $ 636,000 of 10%, 20-year bonds on January 1, 2020, at 102. Interest is payable semiannually on July 1 and January 1. Shamrock Company uses the effective-interest method of amortization for bond premium or discount. Assume an effective yield of 9.7705%.

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