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23. JOE issues bonds with a stated rate of 10%, face amount $100,000, and due in 10 years with semi-annual payments on June 30 and
23. JOE issues bonds with a stated rate of 10%, face amount $100,000, and due in 10 years with semi-annual payments on June 30 and December 31. The market rate for these types of bonds is 11%. What is the issue price of these bonds? $_____ rounded to nearest dollar) a.
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