Question
LaFluer Corporation issued $300,000 of 10-year bonds on January 1. The bonds pay interest on June 30 and December 31 with a stated rate of
LaFluer Corporation issued $300,000 of 10-year bonds on January 1. The bonds pay interest on June 30 and December 31 with a stated rate of 6 percent. If the market rate of interest at the time the bonds are sold is 4 percent, what will be the issuance price (approximate) of the bonds?
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
2nd Edition
0030270995, 978-0030270994
