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How much cash did perry bank receive

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Question - Perry Bank has $450,000 of 9% debenture bonds outstanding. The bonds were issued at 105 in 2018 and mature in 2038. The bonds have interest payments.

Requirement 1: How much cash did Perry Bank receive when it issued these bonds

Requirement 2: How much cash in TOTAL will perry bank pay the bondholders through the maturity date of the bonds?

Requirement 3: Calculate the difference between your answers to requirements 1 and 2. the difference represents perry banks total interest expense over the life of the bonds.

Requirement 4:Complete perry Banks annual interest expense using the straight-line amortization method.

Reference no: EM132187486

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