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The following information pertains to Hyde Corp.'s issuance of bonds on January 1, Year 1: Face value $1,000,000 Term 10 years Stated interest rate 6%
The following information pertains to Hyde Corp.'s issuance of bonds on January 1, Year 1: Face value $1,000,000 Term 10 years Stated interest rate 6% Interest payment dates July 1 and January 1 Yield 8% At 3% At 4% At 6% At 8% Present value of $1 for 10 periods 0.744 0.676 0.558 0.463 Present value of $1 for 20 periods 0.554 0.456 0.312 0.215 Present value of ordinary annuity for 10 periods 8.530 8.111 7.360 6.710 Present value of ordinary annuity for 20 periods 14.878 13.590 11.470 9.818 What should the issue price be for each $1,000 bond
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