On December 31, 2009, Garner Hot Rods issued $2,000,000 of 6 percent, 10-year bonds. Interest is payable
Question:
On December 31, 2009, Garner Hot Rods issued $2,000,000 of 6 percent, 10-year bonds. Interest is payable semiannually on June 30 and December 31.
Required:
What is the issue price if the bonds are sold to yield 8 percent?
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-0324787351
1st Edition
Authors: Rich Jones, Mowen, Hansen, Heitger
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