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Determine the total cost of borrowing over the life of the bond? On June...

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Accounting

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Determine the total cost of borrowing over the life of the bond?

On June 30,2025 , John Johnson Company issued $4,880,000.00 face value of 13%,20-year bonds at $5,247,120.00, a yield of 12%. Johnson uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and -December 31

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