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On January 1, 2019, Jason Company issued $5.02 million of 10-year bonds at a 10% coupon interest rate to be paid annually. The following present
On January 1, 2019, Jason Company issued $5.02 million of 10-year bonds at a 10% coupon interest rate to be paid annually. The following present value factors have been provided (You can also solve using a financial calculator): Time Period 10 Interest 10% 8% 12% PV of $1 0.386 0.463 0.322 PV of a $1 Annuity 6.140 6.710 5.650 20 10 Calculate the issuance price if the market rate of interest was 10%. Calculate the issuance price if the market rate of interest was 10%. Multiple Choice $4,452,740. $5,692,680. $4,774,020. $5,020,000
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