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A 20-year bond issue of 5,200,000 and bearing interest at 3.5% payable annually is sold to yield 3% compounded quarterly. What is the issue price

A 20-year bond issue of 5,200,000 and bearing interest at 3.5% payable annually is sold to yield 3% compounded quarterly. What is the issue price of the bonds?

The purchase price of the bond is $__

(WILL THUMBS UP IF CORRECT AND DOWN IF INCORRECT)

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