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On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of dollar 4,000,000 and a stated interest rate of 6%, payable semiannually

On January 1, 2014, Ellison Co. issued eight-year bonds with a face value of dollar 4,000,000 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 issue price of the bonds is what

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