Flounder Corporation issues $520,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds

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Question

Flounder Corporation issues $520,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds

Please show work

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Question

Flounder Corporation issues $520,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such

Flounder Corporation issues $520,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the bonds

Please show work

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