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Blossom Company is about to issue $ 100,000 of 9-year bonds that pay a 6.0% annual interest rate, with interest payable semi-annually. The market interest
Blossom Company is about to issue $ 100,000 of 9-year bonds that pay a 6.0% annual interest rate, with interest payable semi-annually. The market interest rate is 4%. How much can Blossom expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.)
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