Description Instructions Timed Test This test has a time limit of 1 hour This test will save and be submitted automatically when the time expires Warnings appear when half the time 5 minutes, 1 minute, and 20 seconds remain Multiple Attempts Not allowed. This test can only be taken once Force Completion This test can be saved and resumed at any point until the time has expired. The timer will continue to run if you leave the test. This test does not allow backtracking. Changes to the answer after submission are prohibited. Your answers are saved automatically. Remaining Time: 59 minutes, 36 seconds Question Completion Status: Moving to the next question prevents changes to this answer. Question 1 Question 1 Save 1 points Pearl Ltd issues $8 million in 5-year debentures that pay interest every 6 months at a coupon rate of 12% per annum. The required market rate of return is 16% per annum. What is the issue price of the debentures (rounded to the nearest dollar)? O $6 926 38 O $8 000 000 $9 177 614 $8 673 978 Moving to the next question prevents changes to this answer. Question 1 help with Study Skills? W x P