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ABCCorpissued8-yearbondswithafacevalueof$800,000onJanuary1st,2023,with a stated interest rate of 7% payable annually. The market interest rate at the time of issuance was 8%. Calculate the issue price of

ABC Corp issued 8-year bonds with a face value of $800,000 on January 1st, 2023, with a stated interest rate of 7% payable annually. The market interest rate at the time of issuance was 8%. Calculate the issue price of the bonds.

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