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Waelchi Inc issued bonds with the following information: Item Amount Face Value of Bond $20,000,000 Life of Bond (in years) 10 Stated Interest Rate

Waelchi Inc issued bonds with the following information: Item Amount Face Value of Bond $20,000,000 Life of Bond (in years) 10 Stated Interest Rate 8% Market Interest Rate 14% Interest Payments Paid semi-annually What is the present value of the principal? What is the present value of the interest payments? At what price should this bond issue sell?

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