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Five decimal points used for this questions, for instance: 0.43562 M10-2 Computing the Price of a Bond Issued at Par LO10-2 Williams Company plans to
Five decimal points used for this questions, for instance: 0.43562
M10-2 Computing the Price of a Bond Issued at Par LO10-2 Williams Company plans to issue bonds with a face value of $607,500 and a coupon rate of 8 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds are sold on January 1 of this year. (FV of S1, PV of $1. FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Determine the issuance price of the bonds assuming an annual market rate of interest of 8 percent. priceStep by Step Solution
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