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Find what amount will amira initially measure bond liability

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Reference no: EM132652476

Amira Inc., a publicly-traded company, issued $50,000,000, 5.0%, six-year bonds on January 1, 20X6. The bonds pay interest semi-annually on June 30 and December 31 each year. The market rate of interest for similar bonds at time of issuance was 6.0%. Amira paid $65,000 in transaction costs directly attributable to the issuance of the bonds. Amira classifies the bonds at amortized cost.

Problem 1: What amount will Amira initially measure the bond liability at on recognition date?

a) $47,446,499
b) $47,511,499
c) $47,576,499
d) $49,935,000

Reference no: EM132652476

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