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A company issued $1,140,000 worth of 8-year bonds with a 3% interest rate. Interest is to be paid annually. The bond issue date is January
A company issued $1,140,000 worth of 8-year bonds with a 3% interest rate. Interest is to be paid annually. The bond issue date is January 1, 2018 and the company has a year-end of December 31. Calculate the bond issue price under each market interest rate (2%,3%,4%).
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