On January 2, 2020, Nelson Construction issued 3,500 of $1,000 par value bonds with a stated rate

Question:

On January 2, 2020, Nelson Construction issued 3,500 of $1,000 par value bonds with a stated rate of 8%, maturing in 10 years. Interest is payable semiannually on June 30 and December 31.
Required:
What is the issue price if the bonds are sold to yield 6%?

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