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The notes to Pinnicle Biotech Inc.'s financial statements recently reported the following data on June 30, 2020, the company's year end: NOTE 4: INDEBTEDNESS Long-term

The notes to Pinnicle Biotech Inc.'s financial statements recently reported the following data on June 30, 2020, the company's year end:

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NOTE 4: INDEBTEDNESS Long-term debt at June 30, 2020, included the following: 8.00 percent debentures due June 30, 2039, with an effective interest rate of 9.00 percent, net of unamortized discount of $626,508 ................. $ 6,373,492 Other indebtedness with an interest rate of 7.25 percent, due $412,000 in 2024 and $468,000 in 2025 880,000 Assume Pinnicle Biotech Inc. amortizes the discount by the effective-interest method. 1. Answer the following questions about Pinnicle Biotech Inc.'s long-term liabilities: a. What is the maturity value of the 8 percent debentures? b. What are Pinnicle Biotech Inc.'s annual cash interest payments on the 8 percent debentures? c. What is the carrying amount of the 8 percent debentures at June 30, 2020? 2021? d. How many years remain in the life of the 8 percent debentures? 2. Prepare an amortization table through June 30, 2023, for the 8 percent debentures. Round all amounts to the nearest dollar, and assume Pinnicle Biotech pays interest annually on June 30. 3. Record the June 30, 2022, and the June 30, 2023 interest payments on the 8 percent debentures. There is no premium or discount on the other indebtedness. Assuming annual interest is paid on June 30 each year, record Pinnicle Biotech Inc.'s June 30, 2021, interest payment on the other indebtedness

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