Webb company has outstanding a 7% annual, 10-year, $100,000 face value bond that it had issued several years ago. it originally sold the bond to yield 6% annual interest. webb uses the effective interest rate method to amortize the bond premium. on june 30, 2017, the outstanding bond’s carrying amount was $105,000. what amont of unamortized premium on the bond should webb reports in its june 30, 2018, balance sheet?

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.