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Coca-ColaCompanyissued5-yearbondswithafacevalueof$600,000onJanuary1st,2023, with a stated interest rate of 6% payable annually. The market interest rate at the time of issuance was 5%. Calculate the issue price

Coca-Cola Company issued 5-year bonds with a face value of $600,000 on January 1st, 2023, with a stated interest rate of 6% payable annually. The market interest rate at the time of issuance was 5%. Calculate the issue price of the bonds.

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