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Determine the amount of deficiency

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Reference no: EM132000657

Question - Serena Williams Corporation, having recently issued a $20,042,000, 15-year bond issue, is committed to make annual sinking fund deposits of $621,400. The deposits are made on the last day of each year and yield a return of 10%.

Determine the amount of deficiency.

Reference no: EM132000657

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