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Calculate the premium or discount on the bonds

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Reference no: EM132652048

Pina Corporation wished to raise money for a series of upcoming projects. On July 1, 2020, the company issued bonds with a face value of $5,522,000 due in 5 years, paying interest at a face rate of 6% on January 1 and July 1 each year. The bonds were issued to yield 4%. Pina used the effective interest method of amortization for bond discounts or premiums. The company's year-end was September 30.

Question 1: Calculate the premium or discount on the bonds

Question 2: How much is the bond?

Reference no: EM132652048

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