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McCoy, Inc. has a 7 percent, $1,200,000 bond issue that originally was issued five years ago. There are now ten years remaining on the bond
McCoy, Inc. has a 7 percent, $1,200,000 bond issue that originally was issued five years ago. There are now ten years remaining on the bond issue, and the market interest rate is 12 percent. Interest is paid semiannually. Calculate the current market value of the bond issue, using present value tables.
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