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A company issued 6%, 15-year bonds with a face amount of $55 million. The market yield for bonds of similar risk and maturity is 6%.
A company issued 6%, 15-year bonds with a face amount of $55 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell?
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Managerial Accounting A Focus on Ethical Decision Making
Authors: Steve Jackson, Roby Sawyers, Greg Jenkins
5th edition
978-0324663853
