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A 2 5 - year bond issue of 5 4 0 0 0 0 0 and bearing interest at 3 % payable annually is sold

A 25-year bond issue of 5400000 and bearing interest at 3% payable annually is sold to yield 2.5% compounded semi annually. What is the issue price of the bonds?Part 1The purchase price of the bond is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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