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A bond issue with a face amount of $800,000 bears interest at the rate of 8%. The current market rate of interest is 10%. These

A bond issue with a face amount of $800,000 bears interest at the rate of 8%. The current market rate of interest is 10%. These bonds will sell at a price that is:
Less than $800,000.
The answer cannot be determined from the information provided.
More than $800,000.
Equal to $800,000.

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