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Wildhorse Pet Supply Company issued $470,000 of 8%, 10-year bonds at 103. Interest is paid annually, and the straight-line method is used for amortization.

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Wildhorse Pet Supply Company issued $470,000 of 8%, 10-year bonds at 103. Interest is paid annually, and the straight-line method is used for amortization. Assume that the market rate for similar investments is 7%. The bonds are issued on the date of the bonds,

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