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Legacy issues $650,000 of 5.0%, four-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31, They are issued at

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Legacy issues $650,000 of 5.0%, four-year bonds dated January 1, 2016, that pay interest semiannually on June 30 and December 31, They are issued at $584,361 and their market rate is 8% at the issue date

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