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On January 1, year 1, ABC. Corp. issued bonds as follows: Face value $7000000 Stated (or coupon) annual rate of interest 6 % Coupon is

On January 1, year 1, ABC. Corp. issued bonds as follows:

Face value $7000000

Stated (or coupon) annual rate of interest 6 % Coupon is paid twice annually.

Market annual rate of interest 12 %

Term in years 3

How much did the bond sell for? Round your answer to the nearest dollar.

Answer (5967362)

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