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On January 1, year 1, ABC. Corp. issued bonds as follows: Face value $790000 Stated (or coupon) annual rate of interest 5% Coupon is paid
On January 1, year 1, ABC. Corp. issued bonds as follows: Face value $790000 Stated (or coupon) annual rate of interest 5% Coupon is paid once annually Market annual rate of interest 6% Term in years 10 How much did the bond sell for? Round your answer to the nearest dollar
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