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The following information applies to the questions displayed below] On January 1, when the market Interest rate was 9 percent, Seton Corporation completed a $260,000,

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The following information applies to the questions displayed below] On January 1, when the market Interest rate was 9 percent, Seton Corporation completed a $260,000, 7 percent bond issue for $226,626. The bonds pay Interest each December 31 and mature In 10 years. Seton amortizes the bond discount using the straight-line method

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