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Present Value of Bonds Payable; Premium Moss Co. issued $310,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective interest rate of

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Present Value of Bonds Payable; Premium Moss Co. issued $310,000 of five-year, 11% bonds, with interest payable semiannually, at a market (effective interest rate of 10% Determine the present value of the bonds payable, using the present value tables in Exhibit 5 and Exhibit 7. Round to the nearest dollar 317,285 X

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