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On September 1, 2021, Crane Corporation issued $595,000 of 10-year, 3% bonds at 95. Interest is payable semi-annually on September 1 and March 1.
On September 1, 2021, Crane Corporation issued $595,000 of 10-year, 3% bonds at 95. Interest is payable semi-annually on September 1 and March 1. Crane's fiscal year end is February 28. Is the market rate of interest higher or lower than 3% ? Market interest rate is than 3%.
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
