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QUESTION 3 Answer savedPoints out of 1.00 Flag question Determining Bond Prices Lunar, Inc., plans to issue $900,000 of 10% bonds that will pay interest

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QUESTION 3 Answer savedPoints out of 1.00 Flag question Determining Bond Prices Lunar, Inc., plans to issue $900,000 of 10% bonds that will pay interest semiannually and mature in 5 years. Assume that the effective interest rate is 12% per year compounded semiannually. Compute the selling price of the bonds. Use Tables 2 and 3 in Appendix A near the end of the book Round answer to the nearest whole number. $833,765

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