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How much is estimated purchase price of the bonds

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Question - On January 1, 20x1, Honey Co. intends to buy 3-year, zero-coupon bonds with face amount of 3,000,000 and maturity value of 3,993,000. The effective interest rate is 16%. The bonds will be measured at amortized cost. How much is estimated purchase price of the bonds on January 1, 20x1?

Reference no: EM132975315

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