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Computing the Bond Issue Price D'Souza, Inc., issues $600,000 of 9% bonds that pay interest semiannually and mature in seven years. Assume that the market

Computing the Bond Issue Price

D'Souza, Inc., issues $600,000 of 9% bonds that pay interest semiannually and mature in seven years. Assume that the market interest (yield) rate is 10% per year compounded semiannually. Compute the bond issue price.

Round to the nearest whole number.

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