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ABC Corp. is in need of cash. It issues bonds with a $3 million face value. The bonds have an 8% coupon rate. The market
ABC Corp. is in need of cash. It issues bonds with a $3 million face value. The bonds have an 8% coupon rate. The market rate is also 8%. The bonds have a life of 7 years and are compounded semiannually. What is the price of these bonds upon issuance? $2,760,000$3,000,000$3,499,990$3,240,000
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