Your company issued debentures with a face value of $123,000 and received $118,000 from the… 1 answer below »

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Your company issued debentures with a face value of $123,000 and received $118,000 from the holders. Your company also paid a fee of $5,000 to prepare and lodge documents required by ASIC (Australian Securities and Investments Commission). The debentures have a life of 4 years and an annual coupon of 7.13%paid half-yearly in arrears. These instruments have been classified as subsequently measured at cost. By the end of the 4th year, Australian interest rates have moved to 12%. The fair value amounts for this debenture at the end of each year are:

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