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A company issues 5%, 12-year bonds with a face amount of $70,000 for $76,620 on January 1, 2021. The market interest rate for bonds of

A company issues 5%, 12-year bonds with a face amount of $70,000 for $76,620 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually on June 30 and December 31 Penuine

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