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6. A company plans to issue a $100,000, 8-year bond, with a contract rate of interest of 8%. payable annually. If the market rate is

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6. A company plans to issue a $100,000, 8-year bond, with a contract rate of interest of 8%. payable annually. If the market rate is 10% when the bond is issued, what is the present value of the bond? a. $100,000 b. $46,651 C. $89,330 d. $92,624

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