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Calculate the issue price of bonds (Show all work) Principal: $150,000 Term: Payable in 5 years Interest Payable: 7% payments due at end of each

Calculate the issue price of bonds (Show all work)

Principal: $150,000

Term: Payable in 5 years

Interest Payable: 7% payments due at end of each year

Market at issue date: 8%

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