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Sheridan College is about to issue $0.91 million of 10-year bonds that pay a 4% annual interest rate, with interest payable semi- annually. Click
Sheridan College is about to issue $0.91 million of 10-year bonds that pay a 4% annual interest rate, with interest payable semi- annually. Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1 Calculate the issue price of these bonds if the market interest rate is 4%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to O decimal places, e.g. 1,575.) Price of the Bond $
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