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On June 30th, 2020, Northwestern Co. issued 8% 20 year with a total face value of $1,200,000. The bonds pay interest semiannually on June 30th

On June 30th, 2020, Northwestern Co. issued 8% 20 year with a total face value of $1,200,000. The bonds pay interest semiannually on June 30th and December 31st. The market rate of interest of bonds with similar risk is 7%. Compute the issuance price (selling price) of the bonds using your financial calculator.

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