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on january 1, 2012, ellison co. issued eight-year bonds with a face value of $2,000,000 and a stated interest rate of 6%, payable semiannually on

on january 1, 2012, ellison co. issued eight-year bonds with a face value of $2,000,000 and a stated interest rate of 6%, payable semiannually on june 30 and december 31. the bonds were sold to yield 8%. table values are: the present value of the interest is

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