[Solved] A company issues a $1,000,000, 20-year, 8

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A company issues a $1,000,000, 20-year, 8% bond that pays interest semiannually. Competing investments offer a market rate of 6% interest. Compute the issue price

A company issues a $1,000,000, 20-year, 8% bond that pays interest semiannually. Competing investments offer a market rate of 6% interest. Compute the issue price of the bond and prepare the issuing journal entry. Show your work.

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