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Steven Gar da Comparty sells 8% bonds having a maturity value of $3,000,000 for $2,772,550,00....

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Accounting

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Steven Gar da Comparty sells 8% bonds having a maturity value of $3,000,000 for $2,772,550,00. The bonds are dated fanuary 1 , 2025, and mature lanvary 1.2030 , interest is payabie annually on January 2. Click here to view factor tables. (a) Yoor anwwer is correct. Determine the effecthe -intereit rate. (Round present value foctor to 5 decimal places, es, 1.25124 ond fnal answer to 0 decimol. ploces, es. 18x) The effective interest rate eTextbook and Media Usine muitiple atternpts will ienpac your voore. Attempts: 1 of 3 used 10% score reduction after attempt? Using multiple attempts will impact your score. 10% score reduction after attempt 2 Question Part Score. (b) Set up aschebule of interest expense and discount amortization under the effective- interest methodi (Round intermediate calculations to 5 decimal places, eg. 125124 and final answer to 2 decimal places, es: 38.548 .25 .)

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