Hanover Company issued five-year bonds on January 1. The face value of the bonds is $56,000. The
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Hanover Company issued five-year bonds on January 1. The face value of the bonds is $56,000. The stated interest rate on the bonds is 10%. The market rate of interest at the time of issuance was 8%. The bonds pay interest semiannually. Calculate the issuance price of the bonds.
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Related Book For 
Financial Accounting
ISBN: 9780324066708
8th Edition
Authors: W. Steven Albrecht, James D. Stice, Earl Kay Stice, K. Fred Skousen, Albrecht S.E.
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