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What liability balance does the company report

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Problem 1: A zero coupon bond with a face value of $600,000 is issued on January 1, Year One. It will mature in five years and was issued for $408,350 to earn an annual effective rate of 8 percent. If the effective rate method is used, what liability balance does the company report at the end of Year Two (rounded)?

Option 1: $476,299
Option 2: $478,821
Option 3: $482,678
Option 4: $485,010

Reference no: EM132770034

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