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Sheridan Company issued $490000 of 6%, 10-year bonds on its interest date for $421850 to yield an effective annual rate of 8%. The effective-interest method

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Sheridan Company issued $490000 of 6%, 10-year bonds on its interest date for $421850 to yield an effective annual rate of 8%. The effective-interest method of amortization is to be used. Interest is paid annually. What amount of discount (to the nearest dollar) should be amortized for the first interest period? O $4348 O $5452 O $4089 $8696

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