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Stanford issues bonds dated January 1, 2021, with a par value of $254,000. The bonds' annual contract rate is 8%, and interest is paid semiannually
Stanford issues bonds dated January 1, 2021, with a par value of $254,000. The bonds' annual contract rate is 8%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 10%, and the bonds are sold for $241,104. Prepare an effective interest amortization table for these bonds.
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