Multiple Choice
On 1 July 2010 ABC Ltd purchased a 5-year $1000 5% debenture for $957.88. The current market rate of interest is 6%. The maturity date is 30 June 2015. Interest is payable annually on 30 June.
The interest income that ABC would recognise for the year ended 30 June 2011 is:
A) $47.89
B) $50.00
C) $57.47
D) $60.00
Correct Answer:
Verified
Correct Answer:
Verified
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