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On January 1, a company issued $19,383,400 of 12 year bonds with a coupon rate of 7%, payable semi-annually on June 30 and December 31
On January 1, a company issued $19,383,400 of 12 year bonds with a coupon rate of 7%, payable semi-annually on June 30 and December 31 . The market rate of interest on the issuance date was 5%. What was the issuance price of the bonds? Provide your answer to the nearest whole dollar (no decimals), $22.850.118.0022.850.11822,850.1192285011822.850.117$22.850,118
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