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On January 1, Year 1, Victor Company issued bonds with a $252,000 face value, a...

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Accounting

On January 1, Year 1, Victor Company issued bonds with a $252,000 face value, a stated rate of interest of 4%, and a 5-year term to maturity. The bonds sold at 97. Interest is payable in cash on December 31 of each year. Victor uses the straight-line method to amortize bond discounts and premiums.

What is the amount of cash flow from operating activities on the statement of cash flows for the year ending December 31, Year 3?

Multiple Choice

a. $11,592

b. $10,080

c. $9,330

d. $7,560

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