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3 Air Destinations issues a bond due in 10 years with a stated interest rate of 6% and a face value of $500,000. Interest

3 Air Destinations issues a bond due in 10 years with a stated interest rate of 6% and a face value of $500,000. Interest payments are made semi-annually. The market rate for this type of bond is 5%. What is the issue price of the bond (rounded to nearest whole dollar)? (Use Table 2 and Table 4) Multiple Choice $537,194. $464,469. $538,972. $500,000.

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