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NJN, Inc.issues bonds due in 15 years with a coupon/stated interest rate of 7% and a total face value of $400,000. Interest payments are made

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NJN, Inc.issues bonds due in 15 years with a coupon/stated interest rate of 7% and a total face value of $400,000. Interest payments are made semi-annually. The market rate for this type of bond is 6%. What is the issue price of the bond (rounded to nearest whole dollar? TVM Tables link (will open in a new window) Select one: O a $438,849 O b. $452,259 O c. $302,878 O d. $439,201 O e. $400,000

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