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Lojack Corporation issued $85,000, 4%, 10-year bonds, with interest payable semiannually at the end of the period. The market rate on the issue date was

Lojack Corporation issued $85,000, 4%, 10-year bonds, with interest payable semiannually at the end of the period. The market rate on the issue date was 5%. Calculate the issue price for the bond

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