Question
On January 1, 2020 ABC Co. issued five-year bonds with a face value of $900,000 and a stated interest rate of 12% payable semi-annually on
On January 1, 2020 ABC Co. issued five-year bonds with a face value of $900,000 and a stated interest rate of 12% payable semi-annually on July 1 and January 1. The bonds were sold to yield 10%. Calculate the issue price of the bonds.
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th edition
978-1118344262, 111834426X, 1118162285, 978-1118562208, 1118562208, 978-1118162286
