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Your Answer correct Joyce Corp, issued $100,000 of 8-year, 5% bonds at par 2 years ago. The bonds pay interest annually. The current market interest

Your Answer correct Joyce Corp, issued $100,000 of 8-year, 5% bonds at par 2 years ago. The bonds pay interest annually. The current market interest rate for similar securities is 8%. Calculate the value of the liability (rounded to the nearest dollar)

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