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On 1 July 2015, a company issued $5,000,000 eight years debentures that pay interest every six months at a coupon rate of 10 percent. At
On 1 July 2015, a company issued $5,000,000 eight years debentures that pay interest every six months at a coupon rate of 10 percent. At the same time of issuing the debentures, the market required a rate of return of 12 percent. The issue price, using the present value tables is?
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