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A company issued $250,000, 8%, 5-year bonds on January 1, 2018. The market rate of interest was 5%. Interest on these bonds is payable annually

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A company issued $250,000, 8%, 5-year bonds on January 1, 2018. The market rate of interest was 5%. Interest on these bonds is payable annually on December 31. (a) Was this bond issued at a premium or a discount? Premium (b) Determine the selling price of the bond

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