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On January 1,2024 , a company issues $24.6 million of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December
On January 1,2024 , a company issues $24.6 million of 5% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. Required: 1-a. If the market rate is 4%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1 ) 1-b. Will the bonds issue at face amount, a discount, or a premium? 2-a. If the market rate is 5%, calculate the issue price. (FV of $1,PV of $1, FVA of $1, and PVA of $1 ) 2-b. Will the bonds issue at face amount, a discount, or a premium? 3-a. If the market rate is 6%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1 ) 3-b. Will the bonds issue at face amount, a discount, or a premium
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