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On January 1, 2017 Leticia Musgrove Corporation issued five-year bonds with a face value of $400,000 and a stated interest rate of 12% payable semiannually

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On January 1, 2017 Leticia Musgrove Corporation issued five-year bonds with a face value of $400,000 and a stated interest rate of 12% payable semiannually on July 1 and January 1. The bonds were sold to yield 10%. Present value table factors are: Calculate the issue price of the bonds

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