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Garcia Company issues 9.00%, 15-year bonds with a par value of $380,000 and semiannual interest payments. On the issue date, the annual market rate for

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Garcia Company issues 9.00%, 15-year bonds with a par value of $380,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6.00%, which implies a selling price of 129 3/8. Confirm that the bonds' selling price is approximately correct. Use present Value Table B.1 and Table 8.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations, Round your other final answers to nearest whole dollar amount.) - Selling Price $ 491.644 Present Value Par Value x Price 380,000 129 3/8 Cash Flow Table Value $380,000 par (maturity) value $17.100 interest payment Price of Bond Difference due to rounding of table values

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