Bond Issued at a Discount Parsel Company issues $350,000 of 12-year bonds with a stated interest rate
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Bond Issued at a Discount Parsel Company issues $350,000 of 12-year bonds with a stated interest rate of 5 percent on January 1. The bonds pay interest annually on December 31. The current market rate for similarly rated securities at the time of issue is 6 percent. What is the issue price of the bonds?
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Related Book For
Financial Accounting A Decision Making Approach
ISBN: 9780471328230
2nd Edition
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith
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