Homework Answers
1) When market interest rate is equal to stated interest rate then face value equal to issue amount = $1400000
2) Amortization table
| Date | Cash paid | Interest expense | Increase in Carrying value | Carrying value |
| 01/01/18 | 1400000 | |||
| 06/3018 | 49000 | 49000 | 0 | 1400000 |
| 12/31/18 | 49000 | 49000 | 0 | 1400000 |
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