On December 31, 2021, Interlink Communications issued 6% stated rate bonds with a face amount of $100
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On December 31, 2021, Interlink Communications issued 6% stated rate bonds with a face amount of $100 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 7%.
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PV 6000000 1 1240904 100000000 013137 PV ...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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