Hanover Company issued 5-year bonds on January 1. The face value of the bonds is $$ 56,000$.
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Hanover Company issued 5-year bonds on January 1. The face value of the bonds is $\$ 56,000$. The stated interest rate on the bonds is 10 percent. The market rate of interest at the time of issuance was 8 percent. The bonds pay interest semiannually. Calculate the issuance price of the bonds.
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Related Book For 
Survey Of Accounting
ISBN: 9780538846172
1st Edition
Authors: James D. Stice, W. Steve Albrecht, Earl Kay Stice, K. Fred Skousen
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