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Determine the price of a $1.8 million bond issue under each of the following independent assumptions: Maturity 10 years, interest paid annually, stated rate 7%,

Determine the price of a $1.8 million bond issue under each of the following independent assumptions:

Maturity 10 years, interest paid annually, stated rate 7%, effective (market) rate 8%.

Maturity 10 years, interest paid semiannually, stated rate 7%, effective (market) rate 8%.

Maturity 10 years, interest paid semiannually, stated rate 8%, effective (market) rate 7%.

Maturity 20 years, interest paid semiannually, stated rate 8%, effective (market) rate 7%.

Maturity 20 years, interest paid semiannually, stated rate 8%, effective (market) rate 8%.

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