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What is the call feature of a bond issue? How does the call feature affect the amortization of bond premium or discount? Give two or

  • What is the "call" feature of a bond issue?
  • How does the call feature affect the amortization of bond premium or discount?
  • Give two or three reasons a company might wish to reduce its bond indebtedness before its bonds reach maturity.
  • How are gains and losses from extinguishment of debt classified? Do you think this is the appropriate treatment? What alternative treatment(s) seem reasonable?

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