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Present value of bonds payable; premium Moss Co . issued $ 7 5 0 , 0 0 0 of four - year, 1 2 %

Present value of bonds payable; premium
Moss Co. issued $750,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%.
Determine the present value of the bonds payable. Round to the nearest dollar.
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