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Determine Concord adjusted unamortized bond premium

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Reference no: EM132671826

Question - On January 1, 2021, Concord Corporation issued its 10% bonds in the face amount of $8070000, which mature on January 1, 2031. The bonds were issued for $9152978 to yield 8%, resulting in bond premium of $1082978. Concord uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. At December 31, 2021, Determine Concord's adjusted unamortized bond premium?

a. $813816.

b. $1082978.

c. $1008216.

d. $974680.

Reference no: EM132671826

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