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Would rite aid recognize a gain or a loss in consolidate

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Reference no: EM132661220

Some of Rite Aid's debt is publicly traded. In NOTE 20, Financial Instruments, Rite Aid disclosed its Fixed rate indebtedness at February 26, 2011 as having a carrying amount of $4,654,549 and a fair value of $4,544,974.

Problem (a) When comparing these amounts, do you conclude that the market yield has increased or decreased, on average, relative to the yield when Rite Aid initially issued its debt?

Problem (b) Would Rite Aid recognize a gain or a loss in its Consolidated Statement of Operations if it elected to recognize its Fixed rate indebtedness at fair value under ASC 825, Financial Instruments?

Reference no: EM132661220

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