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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? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Enter your answers in whole dollars. Round final answers to the nearest whole dollar.)
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Accounting A Business Perspective
Authors: Roger H. Hermanson, James Don Edwards, Michael W. Maher
7th Edition
0075615851, 978-0075615859
