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McDonalds Corporation issued $400,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated rate of8

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McDonalds Corporation issued $400,000 of 15-year bonds on January 1. The bonds pay interest on January 1 and July 1 with a stated rate of8 percent. Ifthe market rate of interest at the time the bonds are sold is 6 percent, what will be the issuance price (approximate) of the bonds

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