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Present value of bonds payable; premium Moss Co. issued $40,000,000 of five-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate

Present value of bonds payable; premium Moss Co. issued $40,000,000 of five-year, 12% bonds with interest payable semiannually, at a market (effective) interest rate of 9%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.

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