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Jefferson Company issues $600,000 of 10% bonds that pay interest semiannually and mature in 10 years. Compute the bonds issue price assuming that the bonds

Jefferson Company issues $600,000 of 10% bonds that pay interest semiannually and mature in 10 years. Compute the bonds issue price assuming that the bonds market interest rate is:

a. 8% per year compounded semiannually

b. 12% per year compounded semiannually

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