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Crane Corp. issued $380,000 of 3-year, 6% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is

Crane Corp. issued $380,000 of 3-year, 6% bonds on May 1, 2021. The market interest rate when the bonds were issued was 8%. Interest is payable quarterly.

1. Determine the price of the bond

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