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Tide, Inc., plans to issue $ 1 , 0 0 0 , 0 0 0 of 9 % bonds that will pay interest semiannually and

Tide, Inc., plans to issue $1,000,000 of 9% bonds that will pay interest semiannually and mature in ten years.
Assume that the effective interest is 6% per year compounded semiannually.
Calculate the selling price of the bonds

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