Question
22) On January 1, 2017, bonds with a face value of $94,000 were sold. The bonds mature on January 1, 2027. The stated interest rate
22) On January 1, 2017, bonds with a face value of $94,000 were sold. The bonds mature on January 1, 2027. The stated interest rate is 8% annually. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10% annually. What is the market price of the bonds? (Round your final answer to the nearest dollar.)
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Managerial Accounting
Authors: Ray H. Garrison, Alan Webb, Theresa Libby
12th Canadian Edition
1260193276, 978-1260193275
