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On January 1, Panopto Corporation issued $500,000 of 4%, 12-year bonds that pay interest annually on December 31. The bonds were issued to yield 10%.

On January 1, Panopto Corporation issued $500,000 of 4%, 12-year bonds that pay interest annually on December 31. The bonds were issued to yield 10%. What will be the issue price of the bonds?

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