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* Your answer is incorrect Cullumber College is about to issue $0.98 million of 10 year bonds that pay a 6% annual interest rate, with

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* Your answer is incorrect Cullumber College is about to issue $0.98 million of 10 year bonds that pay a 6% annual interest rate, with interest payable semi- annually. Calculate the issue price of these bonds if the market interest rate is (a) 5%, (b) 6%, and (c) 7%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to decimal places, eg,5,275.) 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) Market interest rate 5% $ 1022886 (b) Market interest rate 6% $ 979966 (cMarket interest rate 7% 939249

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