Question
On January 1, 1919 Ikea Corp. issued $400,000, 9% bonds due in 8 years. The interest on the bonds is payable annually on December 31.
On January 1, 1919 Ikea Corp. issued $400,000, 9% bonds due in 8 years. The interest on the bonds is payable annually on December 31. On the issue date, the market rate of interest was 8%. Required: Calculate the issue price of the bond. Note: Round all answers to the nearest dollar
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Auditing Today
Authors: Emile Woolf
3rd Edition
013052168X, 9780130521682
