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On December 31,2018 when the market interest rate is 16%,Vincent Realty issues $300,000 of 14.25%, 10-year bonds payable. The bonds pay interest semiannually. Determine the

On December 31,2018

when the market interest rate is 16%,Vincent Realty issues $300,000 of 14.25%, 10-year

bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance. (Round all currency amounts to the nearest whole dollar.)

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