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Bowser Clothing sold $350,000 in 10-year bonds at an interest rate of 8 percent. The market rate for similar bonds is 9 percent. Bowser decides
Bowser Clothing sold $350,000 in 10-year bonds at an interest rate of 8 percent. The market rate for similar bonds is 9 percent. Bowser decides to pay interest annually. Assume that the PVF-OA10, 8%= 6.71008, PVF-OA10, 9%= 6.41766, PVF10, 8%= 0.46319, and PVF10, 9%= 0.42241. Based on this, Bowser sold the bonds for ________ of par.
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