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1. A company issued 5%,20-year bonds with a face amount of $8 million. The market rate of interest at the time the bonds are issued

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1. A company issued 5%,20-year bonds with a face amount of $8 million. The market rate of interest at the time the bonds are issued is 6%. Interest is paid semiannually. A. Using the present value tables, calculate the selling price of the bonds. B. Calculate the carrying value of the bonds after the first interest payment

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