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Question - Miles Solution Inc. issued 10% bonds dated January 1, with a face amount of $320 million an January 1, 2021 for $283,294,720. The bonds mature on December 31, 2030 (10 Years) for bonds of similar risk and maturity the market yield is 12%. Interest is paid semiannually on June 30 and December 31.
Required - Calculate the amounts related to the bonds that Miles would report in it financial statement.
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