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Coldwater Inc. purchases $1,000,000 face value of 4%, 8-year bonds. The market interest rate is 6%. Interest is paid semiannually. The Investment in bond is

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Coldwater Inc. purchases $1,000,000 face value of 4%, 8-year bonds. The market interest rate is 6%. Interest is paid semiannually. The Investment in bond is accounted for using the amortized cost model. To the nearest dollar, what is the amount paid for the Investment in Bonds? Answer: The correct answer is: 874389

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