Cheyenne Company sells 8% bonds having a maturity value of $1,580,000 for $1,460,210. The bonds...
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Cheyenne Company sells 8% bonds having a maturity value of $1,580,000 for $1,460,210. The bonds are dated January 122020, and mature January 1, 2025. Interest is payable annually on January 1. Determine the effective-interest rate. (Round answer to 0 decimal places, eg. 18\%) The effective-interest rate % Set up a schedule of interest expense and discount amortization under the effective-interest method, (Round intermediate calculations to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, eg. 38,548.)
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