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The deposits are made on the last day of each year and

Question - Serena Williams Corporation, having recently issued a $20,049,000, 15-year bond issue, is committed to make annual sinking fund deposits of $616,400. The deposits are made on the last day of each year and yield a return of 10%. (Use the table below.)

Determine the amount of deficiency.

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Accounting Basics: The deposits are made on the last day of each year and

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Accounting Basics: The deposits are made on the last day of each year and

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