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Determine the dollar value of the annual bond premium

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Question - On January 1, 2021, Baltimore Company issued $500,000 face value, 5%, 10-year bonds at 102. Baltimore uses the straight-line method for amortization. Use this information to determine the dollar value of the annual bond premium amortization. Round your answer to the nearest whole number (no cents).

Reference no: EM132932762

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