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On January 1, 2024, Anne Teak Fumiture issued $100,000 of 10% bonds, dated January 1 . Interest is payable semiannually on June 30 and Doce
On January 1, 2024, Anne Teak Fumiture issued $100,000 of 10% bonds, dated January 1 . Interest is payable semiannually on June 30 and Doce 31. The bonds mature in 7 years. The annual market rate for bonds of similar risk and maturity is 12%. What was the issue price of the bonds? Note: Use tables, Excel, or a financial calculator. (EV of \$1, PV of \$1. EVA of \$1, RVA of \$1, EVAD of \$t and PVAD of S1) Multiple Choice $90,705 $88,723 $94.737 $93,723
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