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On January 1 of the currenty year, Vikings Company purchased serial bonds with face value of P4,500,000 and stated 12% interest payable annually every December
On January 1 of the currenty year, Vikings Company purchased serial bonds with face value of P4,500,000 and stated 12% interest payable annually every December 31. The bonds are to be held as financial assets at amortized cost with a 10% effective yield. The bonds mature annually every December 31 for three years. The rounded present value of 1 at 10% for: One period 0.91 Two periods 0.83 Three periods 0.75
What is the market price of the investment?
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