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On January 1, 2016, Colt Co. issued ten-year bonds with a face amount of $1,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. The approximate total issue price of the bonds was: Select one: a. $1,491,600 b. $877,106 c. $1,134,198 d. $954,756 e. $922,346

On January 1, 2016, Colt Co. issued ten-year bonds with a face amount of $1,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. The approximate total issue price of the bonds was: Select one: a. $1,491,600 b. $877,106 c. $1,134,198 d. $954,756 e. $922,346

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...
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On January 1, 2016, Colt Co. issued ten-year bonds with a face amount of $1,000,000 and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%. The approximate total issue price of the bonds was:

Select one:

a.

$1,491,600

b.

$877,106

c.

$1,134,198

d.

$954,756

e.

$922,346

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