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The following information about a 6-year bond have been provided to you: A bond's value of $1,000,000, 15%, 6-year bonds. The issuance date was March

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The following information about a 6-year bond have been provided to you: A bond's value of $1,000,000, 15%, 6-year bonds. The issuance date was March 1, 2020. The interest payments dates are September 1 and March 1 each year. The bonds were issued on March 1, 2020, at 97. The year-end is December 31. a) Were the bonds issued at a premium, a discount, or at par? b) Was the market rate of interest higher, lower, or the same as the contract rate of interest? c) if the company uses the straight-line method of amortization, what is the amount of interest expense ABC Corporation will show for the year ended December 31, 2020

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