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Question 2 On January 1, 2020 Lance Co. issued five-year bonds with a face value of $700,000 and a stated interest rate of 12%
Question 2 On January 1, 2020 Lance Co. issued five-year bonds with a face value of $700,000 and a stated interest rate of 12% payable semi-annually on July 1 and January 1. The bonds were sold to yield 10%. Calculate the issue price of the bonds. PV N PMT FV Type
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408066621, 1408066629, 1408076861, 978-1408076866
