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On November 1, 2017, Yardley Distributors Inc. Issued a $748,000, 9%, two-year bond. Interest is to be paid semiannually each May 1 and November 1

On November 1, 2017, Yardley Distributors Inc. Issued a $748,000, 9%, two-year bond. Interest is to be paid semiannually each May 1 and November 1 (Use TABLE 14A1 and TABLE 14A.2). Note: Use table values for PV calculations. (Use appropriate factor(s) from the tables provided.) points Required: a. Calculate the issue price of the bond assuming a market interest rate of 12% on the date of the bond issue.

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