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Issue Price of a Bond Lunar, Inc., plans to issue $900,000 of 10% bonds that will pay interest semiannually and mature in five years. Assume

Issue Price of a Bond Lunar, Inc., plans to issue $900,000 of 10% bonds that will pay interest semiannually and mature in five years. Assume that the effective interest rate is 12% per year compounded semiannually. Calculate the selling price of the bonds.

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