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SONG Company has outstanding bonds originally issued at a discount. During 2015, the unamortized bond discount decreased from $8,652 to $7,290. Annual interest (coupon) paid

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SONG Company has outstanding bonds originally issued at a discount. During 2015, the unamortized bond discount decreased from $8,652 to $7,290. Annual interest (coupon) paid was $7,200. The market rate of interest was 12% when the bond was issued. Required: Calculate: a. Interest expense for 2015 (4 marks) b. The face value of the bond, to the nearest thousand (5 marks) C. The coupon rate of the bond

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