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Marwick Corporation issues 30%, 5 year bonds with a par value of $1,220,000 and semiannual interest payments. On the issue date, the annual market rate
Marwick Corporation issues 30%, 5 year bonds with a par value of $1,220,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 28%. What is the bond's issue (selling) price, assuming the Present Value of $1 factor for 14% and 10 semi-annual periods is 0.2697 and the Present Value of an Annuity factor for the same rate and period is 5.2161? $2,174,546 $1,009,244 $1,220,000 $265,454 $1,283,580
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