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On January 1, Year 1, Aikman Co. authorizes and issues $300,000, 5% interest-bearing bonds. The bonds mature December 31, Year 5, and pay interest semiannually

On January 1, Year 1, Aikman Co. authorizes and issues $300,000, 5% interest-bearing bonds. The bonds mature December 31, Year 5, and pay interest semiannually on June 30 and December 31. Compute the selling price (rounded) of the bonds if the market rate of interest is 6% (requires use of present value tables)

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