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Acme Organic Potato Chip Corp. sold an issue of 1 2 - year $ 1 , 0 0 0 par bonds for general corporation finance

Acme Organic Potato Chip Corp. sold an issue of

12 -

year $

1, 000

par bonds for general corporation

finance purposes. The bonds pay

4.85 %

interest, semiannually. Today's required rate of return is

9.7 % .

How much should these bonds sell for today? ANSWER WITH EXCEL

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