Question
ABCCorpissued9-yearbondswithafacevalueof$900,000onJanuary1st,2023,with a stated interest rate of 8% payable annually. The market interest rate at the time of issuance was 9%. Calculate the issue price of
ABC Corp issued 9-year bonds with a face value of $900,000 on January 1st, 2023, with a stated interest rate of 8% payable annually. The market interest rate at the time of issuance was 9%. Calculate the issue price of the bonds.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
