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Determine the selling price of the following $12,000 bond issued on January 1: Term: 10 years Semiannual Interest payments: $480 payments begin on June 30

Determine the selling price of the following $12,000 bond issued on January 1: Term: 10 years Semiannual Interest payments: $480 payments begin on June 30 Current annual market rate of bonds with similar risk: 6%

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