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A 20-year bond issue of 5, 800 000 and bearing interest at 66% payable annually is sold to yield 6.3% compounded semi- annually. What is

A 20-year bond issue of 5, 800 000 and bearing interest at 66% payable annually is sold to yield

6.3% 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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