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Mason Co. issued $460,000 of four-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of

Mason Co. issued $460,000 of four-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 11%.

Determine the present value of the bonds payable, using the present value tables in Exhibit 4 and Exhibit 5. Round to the nearest dollar. $

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