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Use the following information for all questions related to Gloria's Glorious Morning Muffins: Gloria's Glorious Morning Muffins is issuing a $10,00012% (stated rate) 2-year bond.
Use the following information for all questions related to Gloria's Glorious Morning Muffins: Gloria's Glorious Morning Muffins is issuing a $10,00012% (stated rate) 2-year bond. The market rate of interest on the date of issuance is 9%. Interest payments will be made on a monthly basis. Question 2 0.5 pts What is the total payment for interest each period on Gloria's bond? Round to two decimal places if necessary. Question 3 0.5 pts What is the interest rate (in percentage form, i.e. 10\%) that Gloria will use each period to calculate interest expense? Round to two decimal places (i.e. 2.25\%). Question 4 2 pts What is the issue price of Gloria's bond? Round FINAL ANSWER to two decimal places if necessary. (Don't round intermediate steps/factors from the PV tables)
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