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When the market rate of interest was 11% Waverly Corporation issued $1,000,000, 12%, 8-year bonds that pay interest semiannually. The selling price of this bond

When the market rate of interest was 11% Waverly Corporation issued $1,000,000, 12%, 8-year bonds that pay interest semiannually. The selling price of this bond issue was? PLEASE EXPLAIN ANSWER

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