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On January 1, 2018, the Blue Devil Corporation issued $100,000 of ten-year bonds. The bonds carried a stated annual interest rate of 5 percent, with

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On January 1, 2018, the Blue Devil Corporation issued $100,000 of ten-year bonds. The bonds carried a stated annual interest rate of 5 percent, with interest payable semiannually on June 30 and December 31. 1. Using the Excel PV function, determine the proceeds of the bond issuance assuming a 4 percent effective (market) annual interest rate

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