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Stein Corporation issued a $2,400 bond on January 1, year 1 . The bond specified an interest rate of 7 percent payable at the end

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Stein Corporation issued a $2,400 bond on January 1, year 1 . The bond specified an interest rate of 7 percent payable at the end of each year. The bond matures at the end of year 3 , It was sold at a market rate of 9 percent por year. The following schedule was completed: Use Table 9C1. Table 9C2. Required: 1. What was the bond's issue price? (Round "PV factor'" to 4 decimal places. Round the final answer to the nearest whole dollar) 2-a. Did the bond sell at a discount or a premium? Discount Premium 2.b. How much was the premium or discount? 3. What amount of cash was poid each year for bond interest? 4. What amount of interest expense should be shown each year on the statement of earnings? (Round "PV factor" to 4 decimal places. Round the final answers to the nearest whole dollar.) 5. What amount(s) should be shown on the statement of financial position for bonds payable at each year-end? (For year 3 , show the balance just before repayment of the bond.) (Round "PV factor" to 4 decimal places. Round the final answers to the nearest whole

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