Thorne Incorporated, a medical services company, issue a bond with zero face value. The bond...
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Accounting
Thorne Incorporated, a medical services company, issue a bond with zero face value. The bond will last 5 years, with a monthly cash interest payment of $830.36. Thorne Incorporated has an estimated annual market interest rate of 12%. What is the amount of the bond liability that Thorne Incorporated must record at the time the bond is issued? Round your answer to the nearest dollar. (Do not write the dollar sign.)
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