Homework Answers
Ans: 14 year
Explanation:
1) Bond Discount:
= $ 5,200,000 - $ 4,836,000
= $ $364000
2) Annual Amortization:
$ 13000 × 2
= $26000
3) Life of Bonds
= $ 364,000 ÷ $ 26000
= 14 year
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