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On January 1, 2024, Crane Ltd. issued bonds with a maturity value of $7.70 million when the market rate of interest was 4%. The bonds
On January 1, 2024, Crane Ltd. issued bonds with a maturity value of $7.70 million when the market rate of interest was 4%. The bonds have a coupon (contractual) interest rate of 5% and mature on January 1,2034. Interest on the bonds is payable semi-annually on July 1 and January 1 of each year. The company's year end is December 31. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 (a) Your answer is incorrect. Calculate the issue price of the bonds. (For calculation purposes, use 5 decimal ploces as displayed in the factor table provided. Round final answer to 0 decimal places, es. 5,275 . (b) The parts of this question must be completed in order. This part will be avallable when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above (e) The parts of this question must be completed in order, This gart will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. (e) The parts of this question must be completed in order. This part will be available when you complete the part above. (f) The parts of this question must be completed in order. This part will be available when you complete the part above
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