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Moss Co. issued $230,000 of four-year, 13% bonds, with interest payable semiannually, at a market (effective) interest rate of 12%. Determine the present value of

Moss Co. issued $230,000 of four-year, 13% bonds, with interest payable semiannually, at a market (effective) interest rate of 12%.

Determine the present value of the bonds payable, using the present value tables. Round to the nearest dollar.

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