(Answered) Question - a 10 year 5 1000000 bond was issued on january 1

Accounting

Question - A 10 year, 5%, $1,000,000 bond was issued on January 1, 2005. The bond pays interest yearly. At the time of issuance, the market rate was 6%. The bonds were retired on January 1, 2013 for 102 percent par. What would be the amount of discount that would have to be credited upon the retirement?

$18,330

$45,962

$73,595

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