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resent Value of Bonds Payable; Premium Mason Co. issued $210,000 of five-year, 13% bonds with interest payable semiannually, at a market (effective) interest rate of

resent Value of Bonds Payable; Premium

Mason Co. issued $210,000 of five-year, 13% bonds with interest payable semiannually, at a market (effective) interest rate of 12%.

Determine the present value of the bonds payable, using the present value tables in Exhibit 4 and Exhibit 5. Round to the nearest dollar.

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