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Business, 06.05.2020 06:28 samy17

On January 1, 2019, Tonika Company issued a seven-year, $10,000, 7% bond. The interest is payable annually each December 31. The issue price was $9,479 based on an 8% effective interest rate. Tonika uses the effective-interest amortization method. The December 31, 2020 book value after the December 31, 2020 interest payment was made is closest to:

a.$668.
b.$763.
c.$664.
d.$700.

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On January 1, 2019, Tonika Company issued a seven-year, $10,000, 7% bond. The interest is payable an...

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