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Texxon Corporation issued $200,000 of 10-year bonds with a payment rate of 6%; payments are made semiannually. Assume that the market interest rate for similar
Texxon Corporation issued $200,000 of 10-year bonds with a payment rate of 6%; payments are made semiannually. Assume that the market interest rate for similar investments is 4%, compounded semiannually. What is the carrying value of the bonds after the first semi-annual interest payment date (i.e., what amount of debt will be left)? a. $231,360.12 b. $198.423.88 c. $234,768.90 d. $196,792.36
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