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Stockman Corp. purchased ten $1,000 6% bonds o Vo go Corporation when he market rate ofinterest was 7% nterest spa sem annual, and he bonds
Stockman Corp. purchased ten $1,000 6% bonds o Vo go Corporation when he market rate ofinterest was 7% nterest spa sem annual, and he bonds will m rene a years. Using the PV function in Excel cent.) compute the price Stockman paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest Stockman paid ar on the bond investment
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