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Roman Destinations issues bonds due in 10 years with a stated interest rate of 5% and a face value of $570,000. Interest payments are made
Roman Destinations issues bonds due in 10 years with a stated interest rate of 5% and a face value of $570,000. Interest payments are made semi-annually. The market rate for this type of bond is 4%. Using present value tables, calculate the issue price of the bonds. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
A) 399,327
B) 527,600
C) 616,601
D) 570,000
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