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On 1 July 2020 Bundy Limited issued $2 million in five-year debentures that pay interest every six months at a coupon rate of 6%. At
On 1 July 2020 Bundy Limited issued $2 million in five-year debentures that pay interest every six months at a coupon rate of 6%. At the time of issuing, the securities market required a rate of return of 4%. Determine the issue price.
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