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On January 1, 2015 Canglon Company issues 12% 5 year bonds with a face value of $100,000 when the effective rate is 14%. Interest is

On January 1, 2015 Canglon Company issues 12% 5 year bonds with a face value of $100,000 when the effective rate is 14%. Interest is paid semiannually. What is the selling price of the bonds?

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