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6. (2 points) On January 1, 2018, Piper Co. issued ten-year bonds with a face value of $10,000,000 and a stated interest rate of
6. (2 points) On January 1, 2018, Piper Co. issued ten-year bonds with a face value of $10,000,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Calculate the issue price of the bond.
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
