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QUESTION
On January 1, 2009, Roger issued $200,000 of its 8% bonds for $184,000. The bonds were priced to yield 10%. Interest is payable semiannually on June...
On January 1, 2009, Roger issued $200,000 of its 8% bonds for $184,000. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. Roger records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2009, the fair value of the bonds was $185,000 as determined by their market value on the NYSE.Required: a)
