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Why is this wrong? 10 Quatro Company issues bonds dated January 1, 2021, with a par value of $750,000. The bonds' annual contract rate is
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10 Quatro Company issues bonds dated January 1, 2021, with a par value of $750,000. The bonds' annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The bonds mature in three years. The annual market rate at the date of issuance is 8%, and the bonds are sold for $769,646. 1 points 1. What is the amount of the premium on these bonds at issuance? 2. How much total bond interest expense will be recognized over the life of these bonds? 3. Prepare a straight-line amortization table for these bonds. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the amount of the premium on these bonds at issuance? Premium $ 19,646 Prepare a straight-line amortization table for these bonds. (Round your intermediate calculations to the nearest dollar amount.) Semiannual Interest Period End 01/01/2021 Unamortized Premium Carrying Value $ 19,646 $ 769,646 06/30/2021 766,682 16,682 X 13,599 X 12/31/2021 763,599 06/30/2022 10.393 X 12/31/2022 7,059 X 3,785 760,393 757,059 753,785 06/30/2023 12/31/2023 0 750,000Step by Step Solution
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