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Brown Company issued a bond with the following terms: Face Amount. $400,000.00 Stated Annual Interest Rate. 10.00% Term... 5 years Interest Paid.. Semiannually If the

  1. Brown Company issued a bond with the following terms:

Face Amount. $400,000.00

Stated Annual Interest Rate. 10.00%

Term... 5 years

Interest Paid.. Semiannually

If the effective annual rate of interest was 8.00% on the date the bond was issued to investors what was the selling price of the bond?

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