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Bushman, Inc., issues $400,000 of 8% bonds that pay interest semiannually and mature in 7 years. Compute the bond issue price assuming that the prevailing

Bushman, Inc., issues $400,000 of 8% bonds that pay interest semiannually and mature in 7 years. Compute the bond issue price assuming that the prevailing market rate of interest is 9% per year compounded semiannually

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