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Required information Knowledge Check 01 Mufala, Incorporated, will issue $10,000,000 of 6% 10-year bonds. The market rate for bonds with similar risk and maturity is

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Required information Knowledge Check 01 Mufala, Incorporated, will issue $10,000,000 of 6% 10-year bonds. The market rate for bonds with similar risk and maturity is 8% Interest will be paid by Mufala semiannually. What is the issue price of the bonds? Note: Round your answer to nearest whole dollar

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