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On January 1, Jean Loptein Inc. issued $3,000,000, 9% bonds for $2,817,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Jean Loptein uses the effective-interest method of amortizing bond discount. At the end of the first year, Jean Loptein should report unamortized bond discount of

a. $164,700. b. $171,300. c. $154,830. d. $153,000.

The accept-reject approach involves the ranking of capital expenditure projects on the basis of some predetermined measure, such as the rate of return

Indicate whether the statement is true or false