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On January 1, 2020, Franklin Co. issued 8% stated rate bonds with a face amount of $9 million. The bonds mature on January 1, 2030

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On January 1, 2020, Franklin Co. issued 8% stated rate bonds with a face amount of $9 million. The bonds mature on January 1, 2030 (10 years). The market rate of interest for similar issues was 7%. Interest is paid semiannually on June 30th and December 31st, beginning June 30, 2020. What are the n and i for calculating the price of the bond issue? 20, 3.5% 20,4% O 10,4% O 10, 3.5%

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