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Cogswell Company issued 6%, 10-year bonds that pay interest semiannually. The discount rate of interest for such is 8%. In computing the present value of

Cogswell Company issued 6%, 10-year bonds that pay interest semiannually. The discount rate of interest for such is 8%. In computing the present value of these bonds, the appropriate discount rate is 8% 6% 4% 3%?

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