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Marwick Corporation issues 10%, 5-year bonds with a par value of $1,010,000 and semiannual interest payments. On the issue date, the annual market rate
Marwick Corporation issues 10%, 5-year bonds with a par value of $1,010,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 8%. What is the bond's issue (selling) price, assuming the following Present Value factors: number of periods (n)= interest rate (i) = Present Value of an Annuity (series of payments) Present value of 1 (single sum) 5 10% 3.7908 0.6209 10 5% 7.7217 0.6139 5 8% 3.9927 0.6806 10 4% 8.1109 0.6756
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