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Business, 10.03.2020 06:59 Jabari1946

Cullumber Inc. has issued three types of debt on January 1, 2020, the start of the company’s fiscal year. (a) $12 million, 12-year, 14% unsecured bonds, interest payable quarterly. Bonds were priced to yield 11%. (b) $27 million par of 12-year, zero-coupon bonds at a price to yield 11% per year. (c) $20 million, 12-year, 9% mortgage bonds, interest payable annually to yield 11%.

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