Kinizi Incorporated sold a $10,000, 6%, 5-year bond for $9,189 to yield 8%.Interest is paid semi-annually.The company uses the effective interest method to amortize all bond premiums and discounts.How much of the discount is amortized at the first payment date?

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The Answer of Kinizi Incorporated sold a $10,000, 6%, 5-year bond for $9,189 to yield 8%.Interest is paid semi-annually.The company uses the effective interest method to amortize all bond premiums and discounts.How much of the discount is amortized at the first payment date?

Kinizi Incorporated Sold a $10,000, 6%, 5-Year Bond for $9,189