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Vaughn Manufacturing is issuing $8.9 million 10% bonds in a private placement on July 1,2020 . Each $1200 bond pays interest semi annually on December

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Vaughn Manufacturing is issuing $8.9 million 10% bonds in a private placement on July 1,2020 . Each $1200 bond pays interest semi annually on December 31 and June 30 of each year. The bonds maturein ten years. At the time of issuance, the market interest rate fi simitar types of bonds was 6%. What is the expected selling price of the bonds? $13350000.$11379625.$11548226.$11288757. Atrempts: 0 of 1 used

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