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Crane Inc. is about to issue $850,000 of 10 -year bonds that pay a 4% annual interest rate, with interest payable semi-annually. The market interest
Crane Inc. is about to issue $850,000 of 10 -year bonds that pay a 4% annual interest rate, with interest payable semi-annually. The market interest rate is 5%. Assuming all bonds are issued, how much can Crane expect to receive for the sale of these bonds? Fill in the remaining variables in the table that follows. (Round rate to 1 decimal place, e.g. 7.2\%)
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