Question
Verizon Communications Inc. issued 6-year bonds with a face value of $800,000 on January 1st, 2023, with a stated interest rate of 8% payable semi-annually.
Verizon Communications Inc. issued 6-year bonds with a face value of $800,000 on January 1st, 2023, with a stated interest rate of 8% payable semi-annually. The market interest rate at the time of issuance was 7%. Calculate the issue price of the bonds.
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
