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A 20-year bond issue of 4,900,000 and bearing interest at 6.5% payable annually is sold to yield 6.25% compounded semi-annually. What is the issue price

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A 20-year bond issue of 4,900,000 and bearing interest at 6.5% payable annually is sold to yield 6.25% compounded semi-annually. What is the issue price of the bonds? The 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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