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2009-06-16 093552 Rosie 1
2009-06-16 093552 Rosie 1
Total premium
($4,160,000 X .02) $83,200
Premium amortized
($83,200 X 2/10) 16,640
Balance $66,560
Bonds converted
($416,000 ÷ $4,160,000) 10%
Related premium
($66,560 X 10%) 6,656
[Premium to be amortized:
($83,200 X 80%) X 1/20 = $3,328