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Create amortization of premium using the effective interest

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Reference no: EM132489898

Wonder Shore Inc. issued 500 five-year bonds on January 1, 2012. The associated interest rates were as follows:

Market interest rate (January 1)4.0%

Nominal interest rate5.0%

Question 1: Assuming the sales proceeds are $522,259, the amortization of premium using the effective interest rate method is closest to:

a. $5,000.

b. $4,110.

c. $4,452.

Reference no: EM132489898

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