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( FBT Inc. issued a six-year, $240,000 bond with a 5% coupon rate. Interest is to be paid quarterly, and at t the market interest
( FBT Inc. issued a six-year, $240,000 bond with a 5% coupon rate. Interest is to be paid quarterly, and at t the market interest rate was 7%. Calculate the issuance price of the bond (ie. the present value of the bond). Multiple Choice $26.847 O $84947 O $240.000 $233.221
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