Michelangelo's Craft Center issues 9%, 9-year bonds with a face amount of $100,000. The market interest rate

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Michelangelo's Craft Center issues 9%, 9-year bonds with a face amount of $100,000. The market interest rate for bonds of similar risk and maturity is 10%. Interest is paid semiannually. Required: At what price will the bonds be issued? Use a financial calculator or Excel. (Do not round intermediate calculations. Round final answer to the nearest dollar amount.)

Posted Date: May 17, 2024 11:01 AM

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Michelangelo's Craft Center issues 9%, 9-year bonds with a face amount of $100,000. The market interest rate

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