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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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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
