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Fara Co. reported bonds payable of $47,000 at December 31, Year 1, and $50,000 at December 31, Year 2. During Year 2, Fara issued $20,000 of bonds payable in exchange for equipment. There was no amortization of bond premium or discount during the year. What amount should Fara report in its Year 2 statement of cash flows for redemption of bonds payable?
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