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A $5 million bond was issued at face value on June 1, 2017. The bond has a twenty five year term and a fixed interest

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A $5 million bond was issued at face value on June 1, 2017. The bond has a twenty five year term and a fixed interest rate of 4% paid annually. At the time of issuance, the current market rate of interest is also 4%. Using the present value tables, demonstrate why the bond was issued at face value ($5 million) by calculating the present value of both the principal and interest using Table P and Table 1. Record your response in an Excel document and upload below

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