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Stressless , Inc. is authorized to issue 9 % , 1 0 - year bonds payable. On January 1 , 2 0 2 4 ,

Stressless, Inc. is authorized to issue 9%,10-year bonds payable. On January1,2024, when the market interest rate is 12%, the company issues $600,000 of the bonds. The bonds pay interest semiannually.
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