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Crane Railroad Co. is about to issue $125,000 of 10-year bonds that pay a 5.00% annual interest rate, with interest payable semi- annually. The
Crane Railroad Co. is about to issue $125,000 of 10-year bonds that pay a 5.00% annual interest rate, with interest payable semi- annually. The market interest rate is 8%. How much can Crane expect to receive for the sale of these bonds? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. 5,275.25.) Click here to view the factor table PRESENT VALUE OF 1 Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. Expectation from sale of bonds eTextbook and Media 0
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