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Compute the amount of deficiency

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Reference no: EM131975452

Problem

Serena Williams Corporation, having recently issued a $20,035,000, 15-year bond issue, is committed to make annual sinking fund deposits of $624,500. The deposits are made on the last day of each year and yield a return of 10%

Determine the amount of deficiency.

Reference no: EM131975452

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