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On January 1, 2017, EE Corp. issues 5-year bonds with a total face value of...

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Accounting

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On January 1, 2017, EE Corp. issues 5-year bonds with a total face value of $4,000,000 and a stated/contract interest rate of 3.5% with interest paid annually each 12/31. The bonds are issued to provide an effective (market) interest rate of 4%. (Round all amounts to the nearest dollar)

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