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25 Air Destinations issues bonds due in 10 years with a stated interest rate of 11% and a face value of $500,000. Interest payments are

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25 Air Destinations issues bonds due in 10 years with a stated interest rate of 11% and a face value of $500,000. Interest payments are made semi-annually. The market rate for this type of bond is 12%. Calculate the issue price of the bonds. Note: Use tables, Excel, or a financial calculator. (FV of \$1, PV or S1, FVA of S1, PVA of \$1. FVAD of S1 and PVAD of S1) ot:14:13 Multiple Choice $471,323 $500,000 $528,677 $316,366

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