Question: On January 1 2014 Kaizen Corporation issued a 500
On January 1, 2014, Kaizen Corporation issued a $ 500 million note that matures in 10 years. The note has a stated interest rate of 6 percent. When the note was issued, the market rate was 6 percent. The note pays interest twice per year, on June 30 and December 31. At what price was the note issued?
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