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On 1 January 20x1, Company DEF issued bonds with the following features:-
Face value of the bond is $200,000.
Period to maturity is 10 years.
Coupon rate is 8% per year.
Effective interest rate at the date of bond issuance is 10%.
The bonds pay interest annually on 31 December.
Problem 1: The bond's interest expense for the year ended 20x3 is closest to
Option 1: $16,000.
Option 2: $17,866.
Option 3: $18,473.
Option 4: $19,535.
Option 5: None of the above.
Problem 2: The bond carrying value at 31 December 20x3 is closest to
Option 1: $175,422.
Option 2: $178,660.
Option 3: $200,000.
Option 4: $180,526
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