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The face value of a bond is $78,000, is stated rate is 7%, and the torm of the bond is five years. The bond pays

The face value of a bond is $78,000, is stated rate is 7%, and the torm of the bond is five years. The bond pays inserest seniannually. At the time of issue. Eve: market rale is 8 b. Determine tho present value of the bonds at issuance

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