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Philips Corporation issued (sold) $50,000,000 of its 10% bonds at par on January 1, 20D. On December 31, 20D the bonds were trading on the
Philips Corporation issued (sold) $50,000,000 of its 10% bonds at par on January 1, 20D. On December 31, 20D the bonds were trading on the bond exchange at 102. Since the issue date, the market rate of interest on similar risk bonds has Increased. Decreased. Stayed the same. None of the above is correct
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