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On January 1, year 1, ABC. Corp. issued bonds as follows: Face value $8000000 Stated (or coupon) annual rate of interest 11% Coupon is paid

On January 1, year 1, ABC. Corp. issued bonds as follows: Face value $8000000 Stated (or coupon) annual rate of interest 11% Coupon is paid twice annually. Market annual rate of interest 8 % Term in years 3 How much did the bond sell for? Round your answer to the nearest dollar

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