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Trew Company plans to issue $900,000, 10-year, 6 percent bonds. Interest is payable semi-annually on June 30 and December 31. All of the bonds will

Trew Company plans to issue $900,000, 10-year, 6 percent bonds. Interest is payable semi-annually on June 30 and December 31. All of the bonds will be sold on January 1, 2014. Determine the issuance price of the bonds assuming a market yield of 8.0 percent.

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