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On January 1, 2016, Jason Company issued $6.0 million of 10-year bonds at a 12% coupon interest rate to be paid annually. The following present
On January 1, 2016, Jason Company issued $6.0 million of 10-year bonds at a 12% coupon interest rate to be paid annually. The following present value factors have been provided: Time Period Interest PV of $1 PV of a $1 Annuity 10 12% 0.322 5.650 10 10% 0.386 6.145 10 14% 0.270 5.216 What was the issuance price of the bonds if the market rate of interest was 10%? $6,782,900. $6,740,400. $6,457,900. $6,000,000.
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