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To finance its operations, Yellow Co. issued $18,000,000 of five-year, 8% bonds with interest payable semiannually at a market (effective) interest rate of 10%. Determine

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To finance its operations, Yellow Co. issued $18,000,000 of five-year, 8% bonds with interest payable semiannually at a market (effective) interest rate of 10%. Determine the present value of the bonds payable, using the present value tables in Appendix A. Round to the nearest dollar. Show computations supporting your answers

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