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Abbington Inc. issues $ 5 6 0 , 0 0 0 of 9 % bonds that pay interest semiannually and mature in 1 0 years.

Abbington Inc. issues $

560, 000

9 %

bonds that pay interest semiannually and mature in

10

years. Compute the bond issue price assuming that the prevailing market rate of interest is:

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