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Please help, thanks! On January 1, 2019, Sooner Corp. issued 8% bonds with a face value of $300,000 The market rate for bonds of comparable
Please help, thanks!
On January 1, 2019, Sooner Corp. issued 8% bonds with a face value of $300,000 The market rate for bonds of comparable risk and maturity is 7% . The bonds pay interest semiannually on June 30 and December 31, and mature in 19 years. (a) What is the interest payment (per semiannual period) on the bonds? (Use Excel formulas and cell references only, not present value tables.) $12,000 (b) What is the issue price of the bonds? (Use Excel formulas and cell references only, not present value tables.) (c) Were the bonds issued at a discount, at a premium, or at parStep by Step Solution
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