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When Patey Pontoons issued 6% bonds on January 1, 2021, with a face amount of $840,000, the market yield for bonds of similar risk and

When Patey Pontoons issued 6% bonds on January 1, 2021, with a face amount of $840,000, the market yield for bonds of similar risk and maturity was 11%. The bonds mature December 31, 2024 (4 years). Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Determine the price of the bonds at January 1, 2021. (Round final answers to the nearest whole dollar.)

Table values are based on:
n = 840000
i = %
Cash Flow Amount Present Value
Interest
Principal
Price of bonds

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