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On Jan. 1, 2020, ABC Company issued 8% annual coupon rate bonds with a face amount of $400,000. The bonds mature in 15 years. The
On Jan. 1, 2020, ABC Company issued 8% annual coupon rate bonds with a face amount of $400,000. The bonds mature in 15 years. The annual market rate of interest is 12%. Interest is paid semiannually on June 30 and Dec. 31. What would be the amount of the price of the bonds at issuance?
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