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THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 3 - 10. Quiz Company issued $1,000,000 of 10% bonds on January 1, 2020 to yield 8%. The
THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 3 - 10. Quiz Company issued $1,000,000 of 10% bonds on January 1, 2020 to yield 8%. The bonds pay interest every July 1 and January 1 and mature on Janauary 1, 2025. The bonds are callable at 103. Determine the issue price of the bonds. Note: Give your answer using dollar signs and commas but not decimal points (cents). Example: $11.111 999,996
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