Question
On January 1, 2015, Universe of Fun issues $830,000, 9% bonds that mature in 10 years. The market interest rate for bonds of similar risk
On January 1, 2015, Universe of Fun issues $830,000, 9% bonds that mature in 10 years. The market interest rate for bonds of similar risk and maturity is 10%, and the bonds issue for $778,282. Interest is paid semiannually on June 30 and December 31.
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