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On January 1, a corporation issued a $1 million, five-year, 10 percent bond that pays interest semiannually. The market interest rate on January 1 was
On January 1, a corporation issued a $1 million, five-year, 10 percent bond that pays interest semiannually. The market interest rate on January 1 was 12 percent. What is the selling price of the bond? a $926,405 b. $826,406 c. $1,000,000 d. $750,000
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