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On January 1, 2025, Ivanhoe Co. issued ten-year bonds with a face value of $4,375,000 and a stated interest rate of 10%, payable semiannually

On January 1,2025 , Ivanhoe ( C o ). issued ten-year bonds with a face value of ( $ 4,375,000 ) and a stated interest ra

 

On January 1, 2025, Ivanhoe Co. issued ten-year bonds with a face value of $4,375,000 and a stated interest rate of 10%, payable semiannually on June 30 and December 31. The bonds were sold to yield 12%. Table values are: Present value of 1 for 10 periods at 10% Present value of 1 for 10 periods at 12% Present value of 1 for 20 periods at 5% Present value of 1 for 20 periods at 6% Present value of annuity for 10 periods at 10% Present value of annuity for 10 periods at 12% Present value of annuity for 20 periods at 5% Present value of annuity for 20 periods at 6% (a) * Your answer is incorrect. Issue price of bond $ 0.38554 1,364,125 0.32197 0.37689 0.31180 6.14457 5.65022 12.46221 Calculate the issue price of the bonds. (Round final answer to 0 decimal places, e.g. 25,000.) 11.46992

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