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Crane Corp. issued $$490,00$ of $3-$year, $4\%$ bonds on May $1,2024.$ The market interest rate when the bonds were issued was $8\%.$

Interest is payable quarterly.

Click here to view the factor table. Present Value of $1$

Click here to view the factor table. Present Value of an Annuity of $1$

$($a$)$

Your answer is correct.

What is the number of interest payments that will be made over the life of the bond?

Determine the price of the bond. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round final

answer to $2$ decimal places, e$.15\mathrm{.}75.)$

Price of the bond $

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