Pompom co recently issued a 1000 face 20 year zero coupon, Financial Management

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Pompom co recently issued a 1000 face 20 year zero coupon

PomPom Co. recently issued a $1,000 face, 20 year zero coupon bond. The initial offering sold in January, 2000 for $350. Despite the fact that the bond doesn’t pay interest, the IRS says you must declare the implicit interest for tax purposes. What is the implicit interest for this bond in year 15?

A. $18.90

B. $21.25

C. $39.34

D. $19.90

E. $40.26

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Financial Management: Pompom co recently issued a 1000 face 20 year zero coupon

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