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help. 15 Kelly Industries issued 9% bonds; dated January 1 , with a face value of $100,000 on January 1,2024 . The bonds mature in
help. 15
Kelly Industries issued 9\% bonds; dated January 1 , with a face value of $100,000 on January 1,2024 . The bonds mature in 2033 (10 years). Interest is paid semiannually on June 30 and December 31 . For bonds of similar risk and maturity the market yield is 10%. What was the issue price of the bonds? Note: Use tables, Excel, or a financial calculator. (FV of $1,PV of $1, FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 ) Multiple Choice $93,769 $71,120 $56,080 $98,321Step by Step Solution
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