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Allegiant issues 11%, 20-year bonds with a par value of $1,000,000 and semiannual interest payments. In each separate situation, determine whether the bond is issued

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Allegiant issues 11%, 20-year bonds with a par value of $1,000,000 and semiannual interest payments. In each separate situation, determine whether the bond is issued at par value, at a discount, or at a premium. Bond issued Situation 1. Market rate for the bond is 10% 2. Market rate for the bond is 11%. 3. Market rate for the bond is 12% Discount Par value Premium

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